How the internet of things is slashing energy costs for business

A worldwide network of objects already helps businesses to control energy use, but now there?s money to be made by bringing them together

by Duncan Jefferies - The Guardian, Mar. 16, 2015 – 

Smart appliances that communicate with each other and share information using the internet are already available. Indeed, the Internet of things has featured on lists of game-changing technologies for years, and is arguably one of the most hyped tech innovations around. With sensors getting cheaper by the day, more and more physical objects are becoming part of a network of things changing the way we live and work.

For businesses of the future, this should lead to a huge cut in costs since these new tools help us see exactly what is going on where. "The Internet of things - which is really about the connecting of devices and the acquisition of data - ultimately creates much more visibility: the visibility of the performance of the grid, visibility of where we lose energy, and where the savings potential really is," says Gerd Kortuem, professor of ubiquitous computing at the Open University and energy leader for Milton Keynes' smart city initiative.

Smart grids, which run using the Internet of things, allow energy distribution to be managed in real time based on immediate data rather than historic patterns of energy use. Together with smart meters, they open the door to energy services and payment tariffs that could dramatically reduce business energy costs and boost their sustainability credentials.

"Energy costs for businesses, particularly small businesses, are always a big challenge - especially if that business is energy intensive," says Rob McNamara, executive director of SmartGrid GB, which is campaigning for the development of smart grids in Britain. "So any technologies, products and services that can help them reduce their energy costs are typically going to be welcome. And things like smart metering, in particular, can provide them with tangible benefits."

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