The energy sector is already beginning to harness the power of the IoT. For example, utilities are using smart meters to collect data on electricity usage, which helps them to improve grid management and identify areas for efficiency improvements. In the future, the IoT will enable even more transformative applications in the energy sector.
For example, the IoT Sims could be used to create virtual power plants that could provide backup power during times of peak demand or when traditional power plants are offline for maintenance. The IoT could also be used to manage electric vehicle charging so that it doesn’t overload the grid.