Energy utilities are leveraging data and smart technologies to improve operational efficiency, design new Energy-as-a-service applications, enhance power generation processes and protect critical infrastructures from cyberattacks and other threats. But users too have started to appreciate smart meters and home devices to reduce energy consumption and related bill, optimize comfort while favouring sustainable behaviours.
Thanks to the IoT and advanced data collection and analytics, utilities are moving from traditional business models (power suppliers chasing customers) to a brand new approach, positioning themselves as trusted energy advisors for commercial users and households. This means being able to protect customers from market volatility, make network complexity fully transparent, encourage businesses and people to reduce carbon footprint.
According to IDC Energy Insights, about 25% of households in Europe will be equipped with Home Energy Management Systems by 2030, and about 30% of non-residential buildings will have implemented IoT-based energy monitoring systems. Penetration is expected to increase up to 70% by 2050.