The Big Opportunity: Electric Utilities Must Learn To Leverage The Internet Of Things
We’ve entered a time when energy is needed everywhere – consumers today expect it. From smart phones, thermostats and kitchen appliances to electric vehicles and wireless-charging furniture, we’re consuming more electricity and using more connected devices today than ever before.
Even across the developing world, where in some parts basic energy access is still considered a luxury, mobile phones and smartphones are empowering consumers. About half of Africa’s population owns a mobile phone and people already pay their utility bills using mobile payments, while farmers use them to monitor weather reports and crop market prices.
The Internet of Things (IoT), fueled by the rapid expansion of digital technology, has created a virtual web of smart, wireless and inter-connected devices that are transforming the way we live and work. Additionally, consumers are increasingly interested in generating their own power through, for example, solar panels supported by home-battery storage.