Large-scale incorporation of new energy generation units based on renewable sources, such as wind and photovoltaic power, drastically alters the structure of the power system. Because of the intermittent nature of these sources, switching in grids (connection and disconnection) occurs much more frequently than with conventional sources. As a result, the power system will inevitably experience a large number of transients, which raises questions about the stability of the system and the quality of the electrical energy. Therefore, measuring various types of transients in power system is crucial for stability, power quality, fault analysis, protection design, and insulation design. Transient recorders that are currently used are generally expensive and only suitable for particular locations in power systems. The number of installed transient recorders is insufficient for a comprehensive analysis of problems that may occur. Hence, it is important to have inexpensive and efficient transient recorders that can be installed at multiple points in the power system on various types of objects. It is also essential to have a transient record database with open access, which can be used by researchers to develop new analysis techniques based on artificial intelligence. This paper proposes an inexpensive measurement and acquisition system designed to record transient phenomena on different objects within the power system. The system is designed to use autonomous power, a standardized data acquisition module, a low-budget system for transmitting recorded transient events to the server via mobile network, and a sensor system adapted to the object where transients are recorded. The proposed system is designed to be used for all types of objects in the power system where transients may occur, such as power lines, transmission towers, surge arresters, and transformers. All components of the system are described, and the system is tested under laboratory conditions. The modular nature of the system allows customization to the specifics of the location in power system by choosing appropriate components. The calibration method of the custom designed Rogowski coil is described. The cost analysis of the proposed system and power consumption analysis are performed. The results show that the system’s performance meets application requirements at a low cost.