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IoE - Internet of Energy

 

Internet of Energy – An Exciting Frontier

 


The Internet is becoming the town square for the Global Village of Tomorrow
-Bill Gates

 

Internet

: an electronic communications network that connects computer networks and organizational computer facilities around the world.

 

Existence in Early Ages

In the 1960s, the Advanced Research Projects Agency (ARPA) of the United States Department of Defense funded research into time-sharing of computers. Research into packet switching, one of the fundamental Internet technologies, started in the work of Paul Baran in the early 1960s and, independently, Donald Davies in 1965

The word internetted was used as early as 1849, meaning interconnected or interwoven. The word Internet was used in 1974 as the shorthand form of Internetwork. Today, the term Internet most commonly refers to the global system of interconnected computer networks, though it may also refer to any group of smaller networks.

 

Technological Advancement.

It is an attempt at extending or further understanding the underlying science used to develop current materials, devices, products or processes.

Internet of Energy

Internet of Energy (IoE) is a technological term that refers to the upgrading and automating of electricity  infrastructures  for energy producers and manufacturers. This allows energy production to move forward more efficiently and cleanly with the least amount of waste. The term is derived from the increasingly prominent market for Internet of Things (IoT) technology, which has helped develop the distributed energy systems that make up the IoE. 

 

Key Takeaways

  • Internet of Energy is a technological term that refers to the upgrading and automating of electricity infrastructures for energy producers and manufacturers.
  • IoE allows energy production to move forward more efficiently and cleanly with the least amount of waste.
  • Benefits of using IoE include increased efficiencies, significant cost savings, and a reduction in the wastage of energy.

 

Understanding Internet of Energy (IoE)

The technology surrounding the Internet of Energy can be a complex and difficult concept to understand, so it's important to understand the basics. IoE is the use of Internet of Things (IoT) technology with a variety of different energy systems. The Internet of Things refers to the idea of connecting devices to the internet. This includes anything from smartphones, tablets, and television sets to major appliances, headphones, and automobiles.

By using IoE technology, manufacturers and producers can reduce inefficiencies in existing energy  infrastructure  by increasing generation, transmission, and use of electricity.

 

Why Does it Really Matter?

Its purpose is to optimize the efficiency of the generation, transmission, and utilization of electricity. IoT technology enables the IoE by creating networks of sensors that have numerous smart grid applications. These include power monitoring, demand-side energy management, distributed storage, and renewable energy integration among others.

 

Benefits of Internet of Energy (IoE)

There are many benefits that result from the implementation of IoE for both manufacturers and energy producers including solar and utility companies. As noted above, it reduces inefficiencies, making the transmission of energy much more productive. There are also significant savings in money as well as a great reduction in the wastage of energy. This, in turn, can be passed down to consumers or end users, who will may also see a cost saving.

 

·        Monetary Benefits Predicted

Currently, the value of IoT is estimated to be from $300 B to close to $2000 B in 2020 (depending on what is accounted for in IoT market). Gartner has a defined focus on IoT added value.

The IoT is forecast to add $14 trillion to the global economy by 2030, and the market for digital devices that enable the IoE is likely to grow to $89.4 billion by 2030. Smart sensor networks are relatively inexpensive so they can be broadly deployed at scale resulting in a tremendous amount of data which can be analyzed to reveal ways to optimize grid efficiency.

Global Internet of Energy Market is estimated to be US$ 953.1 billion by 2030 with a CAGR of 10.40 during the forecast period - by PMI

 

 

IoE Usage and Utilization

·        Solar Companies –

Solar companies are using the IoE to increase service offerings and reach new markets. For example, Chilean solar company Amigo Solar is leveraging a Solar Electricity Network Platform to create microgrids powered by renewable energy systems for homes, businesses, and industrial plants as well as many other applications. The system is driven by a behind-the-meter intelligent energy storage system that ensures consistent uptime and allows the company to analyze customer usage data to offer more personalized service options.

 In addition, the IoE fosters the implementation of smart grid technology to collect data all the way to the grid’s edge. This data can then be used to aid in utilities’ decision-making regarding load balancing, forecasting, and other business decisions.

 

·        Consumer Utilization

An example of how the IoE works for energy consumers is a system that combines a microgrid, intelligent energy storage, renewable energy generation, and smart devices. This system can be programmed to run only when energy is cheapest or when you’ve stored a surplus of energy in your intelligent energy storage system. As a result, you can minimize or virtually eliminate your energy costs while dramatically reducing your carbon footprint at the same time.

 

Future Potential

The Future of the Internet of Energy (IoE) One potential solution to the problem of energy inefficiency is ultra-high voltage transmission (UHV), a system that allows energy to be transmitted rapidly over long distances. UHV solves the problem of energy production being located too far from load centres.

Implementing IoE technology will yield opportunities and efficiencies in our grid and electrical power systems that weren’t possible before. The results will be beneficial for all participants in the energy market.

 

 

 

 

 

 

 

 

 

Sources

Internet | Definition of Internet by Merriam-Webster

Internet - Wikipedia

What is the Internet of Energy (IoE) and Why Does It Matter? | Energy Central

Global Internet of Energy Market is estimated to be US$ (globenewswire.com)

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