The IoT-Enabled Energy Management Market Size
The IoT-enabled energy management market size at the global level, according to Igzy, is expected to grow to “$35.2 billion by 2025 from $20.2 billion in 2020.”
Generally, the IoT market is currently blooming as the technology is witnessing widespread adoption and implementation in different industries.
As this blooming trend continues, it is the energy sector that is gaining special attention. Recently, the energy sector has been topping the list of industries that are gaining attention from governments, institutions, customers and businesses.
What is this Blog About?
In this blog post, we will be exploring the topic; of IoT-enabled energy management. We will discuss some important ways that IoT-enabled energy innovations are disrupting the energy industry.
We will also cover some important energy solutions with IoT technologies and why you should embrace them.
If that sounds like what you are here for, kindly read the article to the end.
Understanding IoT-enabled Energy Management Technology
IoT-enabled energy management refers to the process that involves adequate planning and efficient management of energy consumption. The concept covers all the energy consumption patterns in industries.
The main purpose of IoT-enabled energy management is to efficiently manage and optimise energy compliance for improved utilisation of resources. The implementation boosts business activities, and production, reducing in cost of maintenance and deployment of the human workforce.
IoT-enabled energy management increases all levels of reliability on assets that are energy-consuming. For example, smart grid solutions for buildings use IoT smart sensors to monitor consumption patterns and provide insights into inefficient areas.
This helps in the analysis of all energy consumption patterns and usage. Igzy says you utilize energy monitoring and control for smart buildings to “manage and optimize energy consumption patterns by taking complete control of energy data at the most fundamental and granular level.”
The Internet of Things in energy management is important because it utilises quality data and insights to offer innovative and effective methods for improved decision-making. Also, they help energy consumers to seamlessly track how they consume energy.
At this point, we can say that, IoT enable energy management systems are technologies that offer better management services for optimising energy consumption.
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IoT-Enabled Energy Management Solutions for Buildings
What are smart buildings?
Smart buildings are embedded with information and communication systems and other technologies to enhance different services and performances. Smart buildings use IoT smart sensors for information gathering on conditions and performance of all technologies and systems.
According to infor.thoughtwire.com, “A Smart Building is any structure that uses automated processes to automatically control the building’s operations”. The controlled operations include “heating, ventilation, air conditioning, lighting, security and other systems”. The goal of a smart building is to maximize the “user comfort while minimizing energy consumption.”
With IoT energy monitoring and control for smart buildings, you can transform your offices, homes, schools, hospitals, etc to smart buildings. Moreso, you can use IoT-enabled energy management technologies to efficiently optimise energy consumption in your smart building.
What are the Benefits of Smart Buildings?
There are many benefits of smart buildings and in one way or the other, they contribute to ensuring user comfort and energy efficiency.
These benefits include lower operational costs, predictive maintenance, and greater flexibility.
Also of importance is the benefit of lower energy efficiency in smart buildings, powered by technologies of IoT-based energy optimization for homes.
Top IoT-Enabled Energy Management Trends 2024
Let us take you a smooth ride on the top energy management trends in 2024
Smart Home Energy Management Systems
Smart home energy management systems are technologies that enable smart homes to optimise and manage energy consumption. According to Patil, who is a Smart Home Expert; “A Smart Home Energy Management System is a technology that allows homeowners to manage their energy consumption efficiently controls.” Smart homes utilise the use of IoT smart sensors, smart thermostats, lighting and controls.
Patil says further that Smart Home Energy Management System have features that enable energy waste control. The features also ensure that all the energy utilisation is always optimised. So, with this technology, smart homeowners can customise their energy usage. For example, they can save schedules, receive alerts on energy consumption and set limits for usage.
In summary, you can do the following with a Smart Home Energy Management System;
- Schedule when your smart devices can turn on/off
- Program energy-saving patterns of consumption
- Schedule usage of appliances and lighting when there is someone occupying the rooms or home.
What Should the Best Smart Home Energy Management System Have?
The best and most reliable Smart Home Energy Management System should have the following features and functions;
- Be able to allow the connection of several energy solutions to offer you the best control options and choices.
- The best energy management system should also automate its operations
- Smart Home Energy Management Systems are best when they can use your preferences to automate the use of energy. For example, they should know when you need certain lighting on/off (do you sleep with your lights on? Do you love lights overnight in your garage? How about your radio or TV? Would you want them turned on by 6 or 7 a.m.?)
- Also, the best Smart Home Energy Management System must be user-friendly, easy to use and designed with straightforward commands/instructions. You should easily interact with the controlling devices. You should also be able to get relevant notifications and insights to enhance your decisions.
- Lastly, the best Smart Home Energy Management System should easily integrate with your appliances. The ultimate purpose of this is for a single, unified experience as well as more energy savings.
Find out how SMART METERING FOR ENERGY AND GAS FOR SMART HOMES connects to Smart Buildings by reading this post
Energy Monitoring and Control for Smart Buildings
The energy monitoring and control systems for smart buildings are quite sophisticated in nature. But this may be because smart buildings can also be very sophisticated to monitor control.
Anyways, the technology allows interconnectivity, adaptability and responsiveness of smart homes or buildings. It uses the advanced metering infrastructure for proper energy consumption monitoring.
An advanced metering infrastructure does the following;
- Gives real-time monitoring and accurate measurement of utility consumption
- It helps smart homeowners to understand their energy consumption for improved decision-making.
- The monitoring and control infrastructure which are easy to install, offer flexible and accurate billing.
The energy monitoring and control systems for smart buildings collect useful data on energy consumption and analyse them for efficient control. With the tool in place, you can monitor and control how you consume energy in your building,
The technologies are also reliable for making adjustments to energy consumption to save costs and reduce waste.
On a more critical level, using systems for energy monitoring and control for smart buildings will, as Smart Technologies claim; “provide consumption data that allows you to identify where energy savings can be made”.
What are the Benefits of Energy Management/Energy Monitoring and Control Systems?
Energy management and monitoring systems provide several benefits for smart buildings and homes:
- Improve efficiency by monitoring energy use in real time. This allows for better energy management.
- Save money by identifying waste and reducing energy costs. The data helps make informed decisions about energy use.
- Support renewable energy generation and load balancing. The systems help integrate renewable sources and optimize energy distribution.
- Conserve the environment by reducing energy waste. This is achieved through improved monitoring and control.
- Offer reliable tools for reducing energy consumption through insight and automation.
Therefore, the implementation of energy monitoring and control systems is ultimately to facilitate the monitoring and control of smart-building energy consumption.
Also, they offer real-time data and insight which are very useful for improved decision-making on energy consumption.
They are also capable of helping in balancing the use of energy and regulating patterns of consumption. The technology is just amazing.
Building Energy Management Systems (BEMS)
A building…for a better use of energy, needs to be integrated with a system, which not only gathers information about the energy usage but also gives the building manager the ability to control them. This is exactly what Building Energy Management Systems offers. (KNX 2021).
BEMS offers efficient and intelligent ways of managing buildings. The sophisticated management system deploys sophisticated methods for optimal monitoring and control of smart buildings.
The technology can adequately control a building’s air conditioner, heaters, ventilators, and lighting system. They can even do more, like offering security services; using cameras to monitor cases of breaches and notifying the building managers with smart alarm systems.
What are Building Energy Management Systems and their Functions?
IEA (1997) describe Building Energy Management Systems (BEMS) as: “an electrical control and monitoring system that has the ability to control monitoring points and an operator terminal. The technology can gain control of any building attribute or component.
Similarly, DesignBuildings, a building and Construction company describe Building Energy Management Systems as: “Integrated, computerised systems for monitoring and controlling energy-related building services plant and equipment.” This equipment includes “heating, ventilation and air conditioning (HVAC) systems, lighting, power systems and so on.”
From both descriptions on BEMS, you can deduce that the system is more affiliated with energy-consuming equipment or systems. When integrated with IoTs and embedded in smart buildings, it performs wonders. It offers unprecedented control; one that is greater and more efficient for energy management in buildings.
The application of BEMS has over the years, proven to be a great tool for energy savings. It also offers other interesting benefits like security, environmental conditions, enhanced operations, maintenance, etc.
The data generated by BEMS on energy consumption always come out to be very useful for managing energy consumption. The data is also very useful in getting useful insights and suggestions for improved decision making on energy utilisation.
So, if you are a smart building owner and need a reliable and effective tool for monitoring and full control of the whole building, think BEMS. From helping you to save cost on energy, to automating operations and security in the building, BEMS proves to be a robust tool for you.
Discover the Smart Grids IoT Revolution for Efficient Energy Generation and Distribution
IoT Smart Grid Solutions for Buildings
Traditional grids only generate, and transmit electricity to consumers. IoT-enabled smart grids do all of that but use IoT devices for enhancing communication. The communication takes place between the technologies and the consumers.
The IoT tech contributor, IIoT.com posits that: “Smart grids are designed with energy efficiency and sustainability in mind. As such, they can measure power transmission in real-time, automate management processes, and reduce power cuts.” Smart grids can also “easily integrate various renewable energy sources.” With the implementation of the technology in smart buildings, energy efficiency and optimisation can be easily achieved.
IoT smart grid solutions offer strong for support energy conservation in smart homes and buildings.
Here is what you can achieve with the IoT-enabled energy management technology for smart buildings;
Efficiency in Operational Management
Using smart grid solutions for buildings collects and analyses relevant data to create new ways of managing the home. For example, IoT-enabled smart grid systems can analyse data and use the insight to better control home lighting systems, heating unused rooms, or even opening and closing the windows of rooms.
A smart grid for smart buildings requires the installation of smart metering infrastructure. This opens up opportunities for the implementation of IoT-enabled energy management processes/strategies.
Smart metering allows for smart controls, monitoring, and efficient management of utilities and energy consumption.
IoT-enabled smart grids also offer strong support for smart buildings to efficiently utilise renewable energy.
Eco-Friendly IoT Smart Grid Solutions for Buildings
Smart buildings are strong and durable. They are built with sustainable and efficient materials that are eco-friendly. The utilisation or implementation of smart grids for smart buildings complements this with more energy-efficient solutions.
Automatic Lighting Systems
Smart grids offer the possibility of automatic lighting because of the presence of IoT-enabled energy management devices. These devices can be installed in or outside the buildings.
Smart Grids and Smart Buildings are Flexible
IoT Smart Grid Solutions for Buildings support flexibility to buildings. This enables smart buildings to adapt to new changes in technologies.
As we have established in this section, IoT and smart grids open up a new world in terms of power delivery and generation. This new world can assist consumers in using electricity in a more environmentally friendly way.
In the future, smarter power grids will replace conventional ones. This is because smart grids for smart buildings have the capacity to lower costs and reduce power outages.
Smart grids achieve all of these while also raising awareness to energy consumers on optimising energy management.
IoT-Enabled Energy Management for Smart Buildings: Our Conclusion
This blog has delved deep into the world of IoT-enabled energy management, exploring its intricacies and the ways it disrupts traditional energy consumption patterns. The concept goes beyond mere control – it’s about the effective management of energy, optimizing resources and reducing costs. The integration of IoT technology into smart grids and buildings is the catalyst for more reliable, efficient, and cost-effective energy consumption.
Smart buildings, which are becoming increasingly prevalent, leverage IoT sensors and technologies to enhance user comfort while minimizing energy consumption. The benefits of these innovations are diverse, encompassing lower operational costs, predictive maintenance, and greater flexibility in energy usage. Smart buildings also offer a unique platform for promoting eco-friendly practices, conserving energy, and reducing environmental impact.
In the year 2023, we stand on the cusp of numerous promising trends in IoT-enabled energy management. Smart home energy management systems are becoming more sophisticated, offering users the ability to customize and optimize their energy consumption with precision. Energy monitoring and control systems for smart buildings are becoming more advanced, providing valuable insights into energy consumption patterns and opportunities for improvement.
IoT-enabled Energy Management: The Way Forward?
As we look to the future, it is clear that IoT-enabled energy management will continue to reshape the energy landscape. It promises not only economic benefits but also environmental sustainability. This technology empowers consumers with the tools and knowledge to make informed decisions about their energy consumption, fostering a more sustainable and energy-efficient world.
The adoption of IoT-enabled energy management is not merely a choice; it is a commitment to a brighter, greener, and more efficient tomorrow. It is a pledge to ensure that our energy resources are used wisely and that the path to a sustainable future is well-lit. Embrace this innovation, and together, we can build a more energy-efficient world.
