An electronic trip unit for a circuit interrupter, the circuit interrupter having a set of separable contacts, the electronic trip unit comprising: a line side voltage sensing module structured to measure first voltages on a line side of the separable contacts; a load side voltage sensing module structured to measure second voltages on a load side of the separable contacts; a current sensor structured to measure a current flowing through a line to which the separable contacts are coupled; a main controller structured and configured to receive first voltage information based on measurements made by the line side voltage sensing module, second voltage information based on measurements made by the load side voltage sensing module, and current information based on measurements made by the current sensor, characterized in that the main controller is further structured and configured to: (i) for each of a plurality of arc interruption events in the circuit interrupter, determine a mass loss due to contact erosion during the arc interruption event based on one or more of the first voltage information, the second voltage information and the current information, (ii) determine a total mass loss based on each determined mass loss due to contact erosion, and (iii) monitor a remaining life of the separable contacts based on the determined total mass loss due to contact erosion; and a light emitting diode structured to output light in green, orange, and red; wherein the main controller is further structured and configured to: (i) control the light emitting diode to output green light if the total mass loss is less than a first threshold level at which replacement separable contacts should be ordered, (ii) control the light emitting diode to output orange light if the total mass loss is between the first threshold level and a second threshold level at which the circuit interrupter should not be operated further,, and (iii) control the light emitting diode to output red light if the total mass loss is above the second threshold level. a line side voltage sensing module structured to measure first voltages on a line side of the separable contacts; a load side voltage sensing module structured to measure second voltages on a load side of the separable contacts; a current sensor structured to measure a current flowing through a line to which the separable contacts are coupled; a main controller structured and configured to receive first voltage information based on measurements made by the line side voltage sensing module, second voltage information based on measurements made by the load side voltage sensing module, and current information based on measurements made by the current sensor, characterized in that the main controller is further structured and configured to: (i) for each of a plurality of arc interruption events in the circuit interrupter, determine a mass loss due to contact erosion during the arc interruption event based on one or more of the first voltage information, the second voltage information and the current information, (ii) determine a total mass loss based on each determined mass loss due to contact erosion, and (iii) monitor a remaining life of the separable contacts based on the determined total mass loss due to contact erosion; and (i) for each of a plurality of arc interruption events in the circuit interrupter, determine a mass loss due to contact erosion during the arc interruption event based on one or more of the first voltage information, the second voltage information and the current information, (ii) determine a total mass loss based on each determined mass loss due to contact erosion, and (iii) monitor a remaining life of the separable contacts based on the determined total mass loss due to contact erosion; and a light emitting diode structured to output light in green, orange, and red; wherein the main controller is further structured and configured to: (i) control the light emitting diode to output green light if the total mass loss is less than a first threshold level at which replacement separable contacts should be ordered, (ii) control the light emitting diode to output orange light if the total mass loss is between the first threshold level and a second threshold level at which the circuit interrupter should not be operated further,, and (iii) control the light emitting diode to output red light if the total mass loss is above the second threshold level. (i) control the light emitting diode to output green light if the total mass loss is less than a first threshold level at which replacement separable contacts should be ordered, (ii) control the light emitting diode to output orange light if the total mass loss is between the first threshold level and a second threshold level at which the circuit interrupter should not be operated further,, and (iii) control the light emitting diode to output red light if the total mass loss is above the second threshold level.