Energy management systems powered by IoT sensors can record and analyse energy information in real-time. Energy spikes and voltage changes are among some of the many things that sensors can track and businesses can harness the benefits of EMS, embedded with IoT tech, to identify inefficiencies, pinpoint faults and get valuable insights on how to improve energy efficiency.
Four key uses for IoT in the energy field
IoT energy management can significantly reduce an organisation’s operational expenses, while preparing it for peak demand. And it’s not only businesses which can benefit from developments in energy management technologies. Here are just a handful of common IoT applications:
1. Maintaining balance within energy management
Smart grids powered by IoT technology enable more streamlined and efficient management of household energy demand, green energy production and consumption levels. This, in turn, makes for more efficient load balancing and shedding.
Households can also use smart grids embedded with IoT to:
- Improve the reliability and quality of power and transmission
- Enhance power distribution efficiency and energy utilisation
- Increase the sustainability of residential buildings
- Lower electricity consumption and costs
2. Managing household energy consumption
According to the US Energy Information Administration, in 2019, the average residential electricity bill was $115.49 per month. That’s $1,385.88 a year. IoT energy management systems can automatically regulate building temperature, lighting and ventilation; decreasing energy consumption without compromising residents’ comfort.
The data gathered by IoT systems and smart meter mobile apps can yield many benefits for domestic customers, including:
- Increased energy efficiency and lower electricity bills
- More accurate consumption and spending predictions
- Timely identification and prevention of faults
- Improved comfort
3. Reducing energy usage to bring costs down
A report by Research and Markets indicates that 40% of global energy consumption relates to household buildings, while 30% is down to commercial premises, such as retail stores, hotels, hospitals, etc . Energy management systems powered by IoT can help both the domestic and industrial sectors reduce their energy usage and, thus, their expenditure.
The benefits include:
- Reducing operating costs by optimising energy consumption
- Safeguarding environmental protection regulations through reducing energy usage
- Maximising consumption of locally-produced energy
- Lowering the cost of electric utilities
4. The real-time AI of IoT data
One solution that can greatly enhance the efficiency of a smart home is the digital representation of a physical space – i.e. a real-time data infrastructure with a dashboard. From there, users can easily integrate smart objects and lifestyle products, such as smart TVs, beds, showers, lights, and so on. This gives users two ways to improve their immediate environment. The first is enhancing the comfort in which a household lives and the second is reducing energy usage and footprint.
Benefits for companies:
- Improved value proposition for smart energy companies and electronics manufacturers within the smart home/IoT space
- Easier roll-out of smart meters and sensors
- A potential increase in the sales of smart object
Benefits for users:
- An added opportunity to enrich their lifestyles while spending more time indoors
- The home promotes residents’ well-being
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