The global smart grid market is forecasted to surpass $130 billion by 2028. It''s no wonder considering that the related but more established renewable energy market is worth nearly $1.1 trillion as of 2023 and is predicted to grow twofold over the next 7 years. It all boils down to the fact that smart usage of electricity in the form of IoT smart grid is a rising trend that can be exploited by various technology, energy, utility, and IoT companies.
Read also: AI in the renewable energy market
In this article, you''ll discover how smart grid works, why it''s better than traditional grids, and where is the connection between IoT and smart grid technology. On top of that, you''ll find IoT applications and IoT use cases in smart grids. Finally, you''ll learn about the potential future of smart grid technology with IoT and the step-by-step flow for building IoT-enabled smart grid solutions with Intelliarts.
For starters, let''s familiarize ourselves with the main concept related to the topic.
A smart grid is an electrical grid that uses digital technology to monitor and manage the transport of electricity from all generation sources to meet the varying electricity demands of end users.
Smart grids are an enhancement over traditional power grids by incorporating a range of technological capabilities, which will be detailed in the below sections.
It''s essential to understand that smart grids are not only about the management of electricity. At the modern-day level, smart grids can provide plenty of data, both technical and business. Among other things, information provided via smart grid can be used for empowering IoT tech.
Wrapping everything together, here''s how the smart grid operates across all procedures involved in the regular power cycle intended to manage electrical resources:
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As stated previously, smart grids are the advancement of traditional grids. They incorporate a range of technological capabilities allowing for better electrical resources management. Examples of such tech advancements include:
You can discover what such an improvement in the grid technology results into from the comparison table below:
How IoT plays a vital role in smart grid tech
From a certain perspective, the usage of smart electricity management instruments combined with IoT devices is what makes a traditional grid a smart grid.
Above all, smart grids feature a bi-directional flow of information between consumers and utility companies.
Moreover, the listed above IoT devices, both those operating on energy and those measuring all factors related to management and consumption generate lots of data.
It all boils down to the fact that smart grids give providers a complete overview of the consumption of electricity. It may not sound like smart grids provide plenty of useful information, but in reality, the insights derived from such information are vast. Here are some examples:
Now it''s time to move to exact use cases of exploiting such data in business.
You may also be interested to discover the usage of IoT in supply chain management in another blog post by Intelliarts.
So, using the vast data from monitoring sensors in the smart grid, it''s possible to enhance IoT usage and energy management in these ways:
#1 Solar farm monitoring
Solar farm monitoring systems utilize IoT to continuously track and analyze solar panel performance. This includes monitoring:
Data collection helps to optimize energy production and predict maintenance needs, improving overall farm reliability and efficiency. Businesses from manufacturing, energy, and agriculture can benefit from this opportunity the most.
#2 IoT-based electric vehicle (EV) charging
Such IoT-based systems enable smart management of charging stations. These systems can adjust charging rates based on grid capacity and electricity pricing, provide real-time availability updates, and integrate with user apps for enhanced accessibility and usage tracking.
This application is of the most use for energy, logistics, and transportation companies.
Battery monitoring systems use IoT technology to track battery health, charge levels, and performance metrics in real time. This results into:
This can be used for both stationary and mobile devices operating on energy supplied by a smart grid. Battery finds vast usage across various business sectors with offline sites, so basically any business utilizing rechargeable batteries can take advantage of battery monitoring.
Smart meters are IoT devices that provide detailed and real-time data on electricity usage directly to consumers and utilities. They support dynamic pricing, enhance energy consumption tracking, and enable more precise billing and energy usage forecasting. Smart meters are of the most usage for energy and IoT companies.
#5 Predictive maintenance
Predictive maintenance in smart grids employs IoT sensors to monitor equipment conditions. This approach detects early signs of wear or malfunction, allowing for timely maintenance that minimizes downtime and extends asset life, thereby reducing operational costs. Predictive maintenance in smart grids can be used by businesses in manufacturing, logistics, transportation, energy, IoT, and other sectors.
#6 Energy supply smart management
Energy supply smart management leverages IoT to dynamically control and optimize power distribution based on real-time demand and supply data. This helps with the following:
About Iot based smart grid projects
As the photovoltaic (PV) industry continues to evolve, advancements in Iot based smart grid projects have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Iot based smart grid projects for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Iot based smart grid projects featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
