IoT Labs

The increase in production in emerging economies, makes the need for a change in the production and energy management model increasingly urgent. Because of the rise in global demand for raw materials and energy, the consequences for climate are immense. The aging of production and energy transmission infrastructure, combined with growing demand and public awareness of the environmental footprint of the energy industry, renders the conversion of outdated power grids into next-generation smart grids extremely significant.

Taking into consideration consumer expectations as well as their environmental concerns, it is necessary for utility companies to provide outlets for consumers to reduce their electricity bills and connect energy production from renewable sources with conventional large-scale energy production. Smart grid technologies enable control and reduction of consumption, providing real-time information on load and charges, allowing consumers to schedule their consumption with the aim of reducing their bills. This approach achieves a reduction in network load during peak hours, as energy prices are elevated during this period.

Smart grids offer improved management and responsiveness to demand, increased capabilities for distributed generation, and aid in the integration of renewable energy sources, enabling companies to better manage their carbon footprint. Utility companies can avoid significant capital expenses through energy conservation, an increased percentage of energy production from renewable sources, and improved network efficiency, while simultaneously addressing the public’s environmental concerns.

The IoT has the potential to bring about a genuine revolution in the field of energy production and distribution, providing innovative solutions and effectively addressing well-known problems and weaknesses. Smart metering and consumption control, which are relatively prevalent applications today, are only a small part of what future energy infrastructure will be capable of achieving, yielding results not only at the level of Smart Houses and Smart Cities but also in terms of the economy, climate change, and the overall efficiency in the  utilization of the planet’s resources.