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Energy Utilities NEED the Internet of Things

Stay connected to stay on target!

Written by Keith Kohl
Posted September 1, 2015

It’s becoming harder and harder to find things that aren’t connected to the internet in some way.

Wireless chargers mean our mobile devices are always powered up and always connected, businesses, from tech firms to farmers, use data-gathering software to monitor every aspect of their individual markets, and more people are becoming aware of their energy usage through similar applications.

What I’m saying is that energy utilities have a huge opportunity here to offer new services to their customers.

A recent survey from Accenture took stock of how many people were interested in knowing more about their own energy usage and becoming more active in producing and saving power.

Two-thirds of global energy consumers said they were interested in energy-saving devices, up fSmart Meterrom just over half last year. Approximately 69% said they would be interested in an energy-saving program, and more than three-fourths said they had already taken steps to save energy on their own this year.

You see, some utilities already offer services such as smart meters. These are devices that monitor when the consumer is using the most energy, what they are using it on, and when they should cut back to save on peak energy times.

This information can be sent both to the utility company and straight to the consumer’s mobile device, giving people more power over their own energy usage, and confidence in their utilities.

And make no mistake, that kind of confidence is in high demand...

Utilities are known for keeping confidential information very well, and in an age of constant connection, privacy is a must. Thus, utilities have the unique benefit of already having their customers’ trust on this point.

And with the Clean Power Plan encouraging further clean energy use, the internet of things has a whole new goal: saving the energy we already have.

The growth of cleaner energy sources will only improve if energy demand can survive the transitional phases. If utilities can offer consumers the ability to take charge and save their own energy, then there will be more chance for newer technologies to be installed into the energy portfolio.

Furthermore, with more than half of the world willing to become energy independent, energy utilities have the chance to bring more efficient services to their customers and take advantage of the growing trend of internet-connected everything.

To continue reading…

Click here to read the Forbes article.

Until next time,

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Keith Kohl

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A true insider in the energy markets, Keith is one of few financial reporters to have visited the Alberta oil sands. His research has helped thousands of investors capitalize from the rapidly changing face of energy. Keith connects with hundreds of thousands of readers as the Managing Editor of Energy & Capital as well as Investment Director of Angel Publishing's Energy Investor. For years, Keith has been providing in-depth coverage of the Bakken, the Haynesville Shale, and the Marcellus natural gas formations — all ahead of the mainstream media. For more on Keith, go to his editor's page.

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