IoT is a term that has been much in use over the last few years. Most people are familiar with the fact that it means one day your refrigerator might automatically order more milk when it is running low, but IoT potentially offers far more impressive applications in places such as the utility industry.
Toshiba and Landis+Gyr are currently pioneering new smart city technologies in the utility space. Toshiba’s mission is to create new value by connecting its energy, healthcare, storage products, and services using cloud computing, big data and analytics technologies to implement its vision of building a safe, secure and comfortable society – the “Human Smart Community” by Lifenology (a combination of “life” and “technology”).
Investments in standardized smart grid solutions, that include sensors, energy storage and control systems, are key to realizing the potential of IoT. The same applies to the purchase of technology that can leverage smart meter installations through remote firmware upgrades and advanced lifecycle management services. These are the tools that will empower utilities to enhance operations while transitioning to a digitized, IoT enabled energy world. In the meantime, energy companies can start their IoT journey by implementing future-proof, end-to-end smart grid solutions, such as Landis+Gyr’s Gridstream®. Gridstream’s unique suite of proven solutions encompasses big data, infrastructure, command and control applications, and services. The suite brings intelligence to all levels of the utility space, from generation to distribution.
According to the Forrester Research recent report, in 2015, “49% of business decision makers stated that the expansion of IoT initiatives would be a ‘high’ or ‘critical’ organizational priority over the coming 12 months.” And there can be no doubt that, as the IoT continues to develop it will create an ever-increasing number of opportunities for utilities’ business growth. Expect change for the better.