IoT Devices: 4 Benefits for Energy Companies

The use of IoT devices What does it offer us?

The energy management is gaining more and more relevance as a fundamental strategy for energy companies, given that environmental care has become a driver of corporate sustainability initiatives and that climate change is seen as the most important risk to global energy supply. In this context, the use of IoT devices and Big Data digital tools have increased significantly as they facilitate good energy management.

This is evidenced by the latest Schneider Electric report that surveyed 265 energy and sustainability managers from various companies. The report mentions that the increased scope and complexity of energy procurement has generated in companies the need to have specific teams that deal with energy management (56%), managing a range of energy sources, technological tools and financial mechanisms.

Faced with this scenario, it is important that electric companies begin to embark on the path of digital transformation, incorporating IoT technology to automate processes, obtain information in real time, predict crises, monitor and manage remotely with the purpose of streamlining and streamlining the actions, tasks and resources that fall within the sector.

The data shows that the innovation of energy companies will be determined by the inclusion of IoT devices that not only connect smart platforms but their impact goes beyond: they bring value at all levels by promoting the efficiency of the energy system, saving time and money, automating data to make optimal decisions in real time.

IoT technology: advanced energy management

We are going through an energy transformation due to hyperconnectivity, digitalization and, consequently, the use of more energy. It is even expected that in the next 25 years the increase in energy consumption will be at least 80% more globally.

This requires advanced energy management that adapts to today's demands, and this is where IoT technologies play a decisive role: they create a more reliable and future-proof energy infrastructure.

This is a great opportunity for industry, as it is the sector that consumes the most energy. An optimal management of the energy flow will achieve increased competitiveness and improved results; for this it is essential to provide the production sector with systems, equipment and platforms linked to ICT that allow to reach an intelligent energy management.

In addition to this, the future calls for the generation of energy from renewable sources to improve the operation of industry, which today is much more economical than the use of fossil fuels. This is largely due to the use of IoT technology.

The report 'Renewable Power Generation Costs in 2019' developed by IRENA (International Renewable Energy Agency), states that the cost of renewable energy has fallen by 80% in recent years.

Another of the employer's reports, entitled 'Internet of things, innovation landscape brief' concludes that IoT devices have contributed effectively in the generation, distribution and consumption of renewable energy:

• Anticipating and predicting production by using real-time data with accurate forecasts.
• Automating the control and management of power plants.
• Improving the management of electricity networks, achieving stability.
• Extending decentralized and smart energy grids.
• Managing demand intelligently and efficiently.

Benefits of using IoT devices in energy companies

The benefits of IoT devices in the energy industries are more than proven: they enable cost savings in the use of electrical energy, strongly increase productivity and profitability, improve the company's operational processes, provide predictive and troubleshooting capabilities, as well as improve safety.

Here are 4 key benefits of applying IoT technologies in the field of work of energy companies.

Real-time measurements

The Internet of Things (IoT) provides valuable data in real time, facilitating minute-by-minute calculations and measurements of any business process. This enables the identification of possible inefficiencies and the manual or automatic correction of certain actions in order to optimize them.

Predictive and remote control

The hyperconnectivity and artificial intelligence of data promotes predictive process control as well as remote maintenance. Machinery can send real-time data reporting its status to the cloud and be monitored from any destination.

In addition, IoT technology ensures the correct organisation and planning of processes thanks to the immediate sending of information, preventing possible deviations, faults, accidents or unforeseen events.

Security

The connection of different devices allows companies to keep up to date with the secure and monitored all the time. The different smart machines that make up an IoT network (sensors, security cameras, identification devices, etc.) are able to issue real-time notifications to the relevant agencies.

You may be interested in: The key in Iot cybersecurity: devices.

Efficiency

The IoT ensures the efficiency of any process within a company, including the energy and resources used. Through this technology it is possible to know the values of electricity consumption, water and other resources allowing the adjustment of costs.

All levels of work that are executed in the company are also optimized due to the immediate obtaining of intelligent information that facilitates the monitoring of processes and decision making in real time.

The IoT solutions provided by Barbara IoT for energy companies allow them to bring flexibility in their daily work thanks to the remote management of the devices. The deployment of IoT devices will be vital to read inverters, meters or any industrial device. Do you want to know what other benefits Barbara can bring to your use case? Contact us

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