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Recent Developments of Internet of Energy (IoE) and Smart Grid Technology in Energy Industries
By Utilities Tech Outlook | Wednesday, February 27, 2019
Smart energy infrastructure components across generation units, storage, energy meters, loads, and automated distribution equipment describe IoE (Internet of Energy). IoE aims at collecting, organizing and making the information from individual grid-edge devices across the network available to all other grid management participants naturally quick for energy industries.
Cloud-based Platforms for computational needs and data storage answers the challenges faced by energy industries in integrating data and software subsystems. Implementing co-developed cloud-based grid applications is another solution to the problems in unlocking or collecting complex data information. Balancing the power generated from all sources with the electricity that is consuming is assured by a smart energy management system.
Grid analytics, substation device management, meter data management, DERMS (Distributed Energy Resource Management Systems), LV OMS (Low Voltage Outage Management Systems) are some of the advanced apps that provide new levels of efficiency for utility operations. These applications connect the digital world with real things with secure and encrypted data communication making the gird effective and efficiently sustainable.
The supply and demand for global energy are driven primarily by performance in the energy industry. Advanced distributed energy management technology, cost-efficient integration, accurate plan for energy market resources and production, higher profitability with energy trading and usage of data in loading forecast for renewable generation enhances the performance with IoE.
With IoE, the energy industry can manage and operate all smart device-related processes and data acquisition systems. IoE also helps in leveraging data to prioritize field crew dispatches alerting about repairs or outages that occur in the networking system. Grid applications and cybersecurity standards continue its expansion in maintaining system integrity and preventing manipulation of grid data.
Using cloud-based systems for integration the energy industry is willing to co-create the systems and processes for future grid management. The energy industry is rapidly increasing the implementation of IoE and smart grid operation for successful productions and growth in profits.
Digitalization has made the future of IoE and smart grid more secure with recent developments and advancements in its application.