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
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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