The internet of things (IoT) is pervasive. Together with other technologies such as blockchain and machine learning, it is altering every aspect of our lives, from grocery shopping to machinery upkeep. The Internet of Things is applicable to every sector of the economy. As a result of its usefulness in a wide range of industries, from transportation and utility management to education and agriculture, the Internet of Things (IoT) has been adopted by virtually every forward-thinking company looking to expand. However, for those who are unfamiliar with the topic and who work in industries unrelated to technology, this may be a lot to take in. So, over the course of the next few columns, I will discuss how the Internet of Things is revolutionizing several sectors, one by one. The goal is to help anyone interested in deploying IoT-based solutions by discussing use examples, current industry trends, and potential future applications.
The Energy sector is our starting point as we investigate IoT’s potential uses there. We’ll examine how the Internet of Things (IoT) is being used and how it might be used to revolutionize the entire energy ecosystem, from production to transmission to distribution to consumption.
Transforming Energy Generation with IoT
Power generation aims to attain low costs, high reliability, long-term viability, and minimal environmental impact through decreasing emissions and fossil fuel consumption. Companies like GE aren’t the only ones using IoT to advance their missions. The impact of the Internet of Things (IoT) on the power industry may be seen in three primary areas.
1. Remote Asset Monitoring/Management
Among industrial applications, this is likely the most common usage of the Internet of Things. From turbines to transmission lines, sensors in the cloud are measuring wear, vibration, temperature, and other characteristics to assess asset health. In order to reduce downtime caused by unscheduled maintenance and assist avoid the economic ramifications of such downtimes, trends in the data obtained from sensors could be used to estimate the “time to failure” of essential infrastructures and plan repair. Using the Internet of Things (IoT) in power generation could also assist detect safety hazards like gas leaks before they endanger people or equipment.
2. Process Optimization
Plant automation is being substantially aided by the Internet of Things due to its ability to offer real-time data on the health of the entire power plant. Plant operations are being fine-tuned using real-time data in order to improve energy conversion from fuels and decrease maintenance costs.
3. Integration and management of renewable energy sources
Power plants have the potential to reduce their carbon footprint by incorporating renewable energy sources like wind and solar into their operations alongside typical fossil fuel generators. With the data collected by IoT, power plants may more effectively alternate between renewable and fossil fuel generation, store excess energy for use during high demand times, and more. Internet of Things (IoT) based solutions make it simple to optimize the output and uptime of renewable sources by providing data on the production values and general health of renewable sources regardless of their location.
4. Business Models and Decentralization
The proliferation of IoT devices is hastening the process of decentralizing power sources. It is fundamental to a number of emerging business models that are facilitating the widespread adoption of renewable energy technologies at the residential, commercial, and utility levels. In developing nations like Nigeria, “pay as you use” off-grid solar systems are used to power houses, whereas in affluent countries, large-scale, privately owned stations contribute to the grid. It’s also helping utilities gather data for developing variable tariffs (such charging more during peak times) that would give customers more control.
Transforming Energy Transmission and Distribution with IoT
There is some overlap between transmission and distribution issues. They include, but are not limited to, line failures, fault detection, and line losses. Internet of Things could help fix most of these issues.
1. Asset Management and Maintenance
Power transmission and distribution assets might include, but are not limited to, substation machinery and transmission lines. Overuse, vandalism, and other forms of abuse eventually wear out or break every piece of machinery. To combat the widespread problem of vandalism in poor nations, the Internet of Things enables remote monitoring of a variety of characteristics, such as temperature, using a wide variety of sensors. Sensors’ capacity to detect faults and their causes before they become critical boosts repair team output and cuts costs associated with downtime. Saving money on maintenance and replacement parts makes electricity more accessible and cheap.
2. Grid Balancing
The Internet of Things can supply the real-time data required to efficiently control T&D line congestion. To avoid instability, the grid can use IoT to verify that all connected power plants have properly implemented frequency and voltage regulation.
3. Grid Contribution
The participation of typical households in the energy grid is one of the most significant trends in the future of power generation. Multiple residences’ solar panels contribute to or sell extra energy to the Grid. The Internet of Things is a major technology that will facilitate this shift. Variations in voltage at different nodes on the grid caused by the connection of renewable energy based generation plants with varying production levels will cause changes in power flow, but all of these can be managed using real-time data provided by IoT solutions, auto-adjusting the grid to maintain stability.
4. Load Forecasting
Utilities could benefit from automated and smart decisions regarding voltage regulation, network layout, and load switching thanks to real-time data collected by sensors located at various substations and along distribution lines. In addition, infrastructure development and improvement could be based on trends gleaned from the provided data.
Transforming Energy Consumption with IoT
By far, the most significant area of the energy cycle where IoT has had an effect is consumption. Smart electricity meters now predict consumption patterns and, with your consent, regulate the supply of power to particular power-hungry equipment during peak time, when electricity is more expensive. These devices evolved from AMR-based (semi) smart meters and thermostats. Internet-connected lights that sense when no one is at home and turn themselves off.
Below, we’ll look at some of the most promising consumer-facing prospects made possible by the Internet of Things in the energy sector.
Consumers can now reduce their energy bills and make more informed choices thanks to IoT. Smart meters transmit data to a smartphone app, where users can view their energy use history, calculate how much more energy they can afford to use, and adjust their habits accordingly. Consumers have the ability to cut off electricity to specific devices and establish parameters for the activation of others. They can reduce waste and maximize efficiency using this.
As was previously said, the proliferation of IoT-enabled business models has boosted the accessibility and affordability of energy, with consumers reaping the greatest rewards as a result of the greater variety of subscription plans and tariffs available to them.
IoT-based power solutions that make it easier to monitor, generate, and store electricity on a small scale for end users are emerging alongside innovative new business models. We’re getting closer to a future where consumers can opt to stock up on energy before peak times when prices are likely to soar.
In the industrialized world, a new generation of smart meters that can communicate bidirectionally between the power grid and individual homes is being rolled out. These meters alert utility companies whenever they experience a failure and provide other crucial operational data. Using this information, utility companies can more swiftly restore service after faults or other disruptions. In addition, the meters supply real-time data (Load forecasting) that allows the grid to alter power distribution to account for regional differences in peak demand.
With the help of IoT-enabled technologies, single-family dwellings may soon be able to profit from renewable energy sources by selling their excess power to the Grid. With “Vehicle to Grid” and similar technologies, even electric automobiles might begin selling their excess power to the grid.
Consumer-driven projects like the Zero Net Energy building are also being powered by IoT. A home with a zero-net-energy footprint meets all of its energy needs through renewable means.
Together, the aforementioned applications will undoubtedly contribute to making energy cleaner, cheaper, more available, and more sustainable, and they create potential for entrepreneurs and utilities to deliver more value to customers.