Internet of Energy (IoE)
The diction ‘IoE’ may be on-trend at the juncture, but this is a rising market. Internet of Energy is the utilization of Internet of Things (IoT) technology into rationed energy entities to boost the efficiency of energy framework and reduce wastage. Its purpose is to optimize the efficiency in the generation, transmission, and usage of electricity
How does it take on and what does it deal with?
IoT enables IoE by building a network of sensors that have various applications, such as power monitoring, demand-side energy management, distributed storage, and renewable energy integration among others.
Consumer appliances with IoT functionality would be able to help balance energy demand. For example a washing machine could be connected to the internet and only power on when there is sufficient energy from solar power in the grid. For the consumer, using energy at off-peak times could save them money as well. The IoE also helps countries manage demand and could insure that countries don’t suffer from blackouts in the future.
Nicola Shaw, UK based National Grid plc executive director, said that “between 30%-50% of fluctuations in the grid could be solved by both households and businesses adjusting their demand at peak time”
Blending big data, machine learning and IoT technology, General Electric is building an Internet of Energy where sensors collect data and then send to cloud for analytics. This gives real-time monitoring of their machines, and has led various benefits including a 5% fall in downtime and a 25% fall in maintenance and operations costs.
Notably consumers using IoT technology in their daily lives are getting increased, so the conventional method of reading a meter and then receiving an estimated bill won’t cut it for very long. The IoE is a warming new verge in the development of the IoT. Enabling IoE will bring in opportunities and efficiencies in our network and electrical power systems that were not possible before. The results will be beneficial for all the adherents in the energy market