How IoT will change your life
…………A better balance of power
Take the smart grid, for example. This is the application of the IoT to the modernization of our ageing electric infrastructure. In many countries, the grid was built in the 20th century and has not been modernized to tackle the challenges of the 21st century. These new challenges include balancing supply and demand during peak times, integrating more renewable and distributed energy resources (solar panels, electric vehicles, battery), the need to improve reliability (reduce blackouts and outages) and the need to reduce greenhouse gas emissions – while at the same delivering safe, reliable and affordable energy. While it’s important to ensure that the technology is secure, reliable and cost-effective (which it is), it’s far more important to articulate the benefits these technologies bring, such as reducing power outages. The Electric Research Power Institute (EPRI) estimated that in the United States, blackouts and outages cost the economy around $180 billion a year.