The Internet of Things (IoT) is transforming the way we work, allowing businesses to connect and monitor equipment from almost anywhere. Innovation within the utilities industry is happening through Smart Grid technology, which allows two-way digital communication between power provider and users, so that everything on the grid from power plant to individual appliances can be seen and controlled in real time, which means:
Manage costs & improving efficiency – power can be monitored and controlled on-demand. As energy requirements change during peak and off-peak demands, so do energy prices which reflect the costs to produce it in real time (only produce energy when it is needed – efficient and environmentally sound).
Preventative maintenance – sensors can be used to monitor changes in operating conditions, such as the increase current, temperature, vibration, etc. which intern can identify issues before equipment fails and allows preventative maintenance can be carried out at the optimum time.