INTERNET OF ENERGY, ENERGY EFFICIENCY, AND RENEWABLE ENERGY

Global electricity demand is expected to increase more than two thirds by 2035, overburdening the existing power infrastructure. The integration of renewable energy and optimization of energy use are key to the transition to a sustainable energy future. By 2026, global renewable electricity capacity is forecasted to rise more than 60% from 2020 levels, to over 4800 GW - equivalent to the current total global power capacity of nuclear energy and fossil fuels combined. And by 2050, 800 million smart meters, that reord readings every 15 minutes, are expected to be installed globally, resulting in 77 billion readings in a day. IoE can help manage these massive amounts of data to promote efficient energy usage, from identifying outages in power to storing excess renewable energy so that it isn’t wasted.

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