The IoT of Energy | From Smart Products to Intelligent Solutions

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Jamie Silk | March 2017

The Internet of Things of EnergyFrom Smart Products To Intelligent Solutions

• Developments in the IoT of Energy• The opportunities for energy

efficiency, demand response and customer satisfaction

• How the data from the IoT can assist retail and infrastructure in developing strategy

A whistle stop tour of …

There’s been a dramatic change in: consumer and business technologies, connectivity, sensors, data, analytics, industry/sector convergence.

Energy is a little smarter: it has efficient/smart appliances and systems, digital retail innovations, smart network upgrades.

Global experts predict transformation in energy but is it just hype or is New Zealand (NZ) simply different:high use of renewables in NZ; for the tech savvy is it convenience not savings that count?

Internet of Things of EnergyThe catalyst is coming to transform the IoT of Energy from peripheral smart products to intelligent solutions

The IoT enables the transactive grid and new consumer opportunities

The

Internet of

Energy Big Data and Analytics

Consumer EnergyAssets

The Sharing Econom

y

Integrating these can drive dramatic change to energy supply and consumption…

“

But innovating IoT for energy services can be complex:

Need to understand what engages individuals and their choices.Complex dialogues are costly. Timing is everything.Smart appliances must be simple to use.

Relevance and convenience are key

The OpportunitiesDevelopments in the IoT of energy needs intelligent, relevant engagement; convenient execution.

This year’s Consumer Electronics Show is the craziest yet, as the falling cost of sensors means the internet of things is finally a reality…FT.com

“

The promised maturity of voice artificial intelligence (AI), combined with analytics over our digital footprints, means personalised consumer dialogues are imminent…

“

Making it convenient, easy and simple to do what you are thinking …Example:… Nvidia’s Spot’s AI mini mikes in wall sockets, or Alexa in your Ford car or device

Voice artificial intelligence

Facilitating convenient, personally relevant dialogues…Example:… cheap sensors, digital footprints and data analytics to personalise dialogues. XNOR.AI runs on every device

Intelligent Personal Assistants (IPA)

Enabling building blocks to intelligent and convenient engagements are developing“

Digital contracts and transaction verification secure real-time logging of every transaction, with instant access for automated decision or settlement…

…anywhere, device to device.

Building block: Blockchain

Building block: connected hardware

• Choice, functionality and cost• Electric vehicles, connected vehicles,

energy storage, photovoltaic (PV) self-use devices, sensors

• Connected storage choices have proliferated

• CSIRO predicts a 53% decrease in prices by 2025

Fault Location Isolation and Service Restoration (FLISR), distributed resource management systems, real-time ratings

Building block: the industrial IoT - smart grid

Standards, cyber-security, product connectivity and continuity are developing but…“

Energy Smart Tech Investment

2014 to 2015

Global energy smart tech investment

Energy Smart Tech Investment

2015 to 2016

-2% +30%

Source: Bloomberg New Energy Finance 2016

Global energy smart tech investment kicked in to growth in 2016 (as clean energy investment fell 7%)

The Power of DataHow can the data from the IoT assist retail and infrastructure in developing strategy?

For strategy to be possible … it is necessary to … evaluate the possible

consequences of alternate courses of action.

Bruce Henderson, BCG, 1981

• Opens up rich new sources of knowledge to inform strategy

• Will change how we transactand execute every day

• Unlocks the value of the energy internet for consumers and business

The data from the IoT:

• Optimise across operations, services, products or convergent industries

• Deeply understand consumers (preferences, behaviours, related activities, environmental or material factors)

• Deliver increasingly dynamic, predictive solutions

The energy internet and data analytics can:

Adapting to analysed operational and environmental data to optimise asset utilisation, asset life, and investment choices.

Asset fleet, network designand operations strategies

• Chief Data Officers, Data Scientists required

• Architecture for millions of data points and sources

• Maturing analytically from surveillance to optimisation to predictive

• Cyber security

IS strategy adapts to data volume, velocity, variety and complexity

IoT data provides … • Contextual inputs to what very

different consumers do, why and when • Lead indicators on how their needs and

preferences will change• Dynamic, connected and automated

engagement across convergent sectors

Customer strategy

The “crazy” AI enabled IoT… … an intelligent, convenient and relevant pathway to new business and consumer outcomes.

The

Internet of Energy

Big Data and Analytics

Consumer EnergyAssets

The Sharing

Economy

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