What is Internet of Energy (IoE)
Internet of Things (IoT) is fairly a familiar term nowadays, the impact and successful implementation of IoT technology has brought forward its new spectrum in the energy industry – Internet of Energy. The technological term Internet of Energy refers to the automation upgradation of electricity infrastructures for the energy industry. Rising concerns have brought forward initiatives that will cater to the reduction of waste when it comes to the production and utilization of energy, IoE is the technology that has been successful to allow the production of energy to become more efficient while producing the least amount of waste. Thus, making it obvious increased efficiencies, significant cost savings, and a reduction in the wastage of energy as the few of the benefits IoE has to offer for the energy services.
Understanding Internet of Energy (IoE)
It’s hardly surprising that the concepts and technologies behind the Internet of Energy are difficult to grasp, given its complexity. But, to start, IoE refers to the use of Internet of Things technologies in various energy systems. The Internet of Things is based on the concept of connecting devices to the internet. To apply that principle to the realm of energy, manufacturers and producers can employ IoE technology to improve the generation, transmission, and usage of power, hence reducing inefficiencies in the energy infrastructure. Updating electric infrastructures will facilitate the flow of energy, allowing it to reach its full potential while preventing energy waste. If there are no critical updates, much of that energy will be wasted because the transmission will be inefficient.
If IoE technology is added to the process, it can help to install smart grid technology. It allows users to integrate communications systems, control electrical power and flow, measure usage, monitor the health of their systems, and automate their power systems among other things. Smart grids aid users to make more informed business decisions and predict the future better.
The technology of the Internet of Energy is used in a wide range of different applications. A good example of the same will be, the use of smart sensors that are usually common among IoT technology applications. This paves way for IoE-facilitated mechanics such as power monitoring, distributed storage, and renewable energy integration
As mentioned above IoE reduces the great wastage of energy during its production and transmission. But the technology of IoE is not limited to that alone, manufacturers and energy producers alike can reap many benefits through the use of IoE technology, which include:
- Reduced inefficiencies
- Makes transmission of energy much more productive
- Significant cost savings
Large manufacturers aren’t the only ones who benefit from IoE technology. It can also help long-tail solar enterprises, utilities, and private persons. Grid infrastructures can be improved using IoE technology to more efficiently produce and transmit energy while also allowing for the incorporation of renewables. Furthermore, the Internet of Things encourages the use of smart grid technology to collect data all the way to the grid’s edge. This information can then be utilised to assist utilities with load balancing, forecasting, and other business decisions.
A system that includes a microgrid, intelligent energy storage, renewable energy generation, and smart devices is an example of how the IoE works for energy users. This system may be set to only function when energy is cheapest or when you have an excess of energy stored in your intelligent energy storage system. As a result, you can drastically reduce your carbon footprint while minimising or virtually eliminating your energy bills.
The Internet of Everything (IoE) is an exciting new frontier in the evolution of the Internet of Things. Implementing IoE technology will open up hitherto unattainable opportunities and efficiencies in our grid and electrical power systems. The outcomes will be favourable to all energy market participants. The innovations and modern solutions for the energy field through IoE is easily implementable through the support and services of Dezign Space the innovation hub that guides all potential innovative ideas through the process of conceptualization to physical entities that serve in the industry market.