Saving Money and Resources Using IoT

Saving Money and Resources Using IoT

electric power-lines. image by pixabay

This post is also available in: heעברית (Hebrew)

Can we better utilize the idea of Internet of Things with connectivity and data analytics to reduce our consumption and enhance our knowledge and awareness? The answer is YES.

When combined with IoT, smart metering can help utilities improve the delivery of services. The combination of smart meters, two-way communications networks and data-management systems is known as advanced metering infrastructure (AMI). According to the RFID Journal, AMI has a variety of benefits that include helping utility companies automate device connections, meter readings and customer billing. The combination of smart metering with IoT makes it possible for utilities companies and their customers to work together to manage consumption and even pricing.

But what is smart metering? A smart meter provides detailed information on consumption in order to reduce electricity bills and also increase knowledge about the status of the electricity grid, which improves its performance and the quality of service for customers.

The flow of data improves utilities’ ability to predict and monitor demand in order to manage supply and further permits companies to share usage patterns with customers, which can cause the customer to become more aware of their activities and consumption. The benefits include quicker demand response, better-distributed resource management, operational efficiencies and improved customer relationships.

Another factor helping to accelerate the adoption of smart meters is the increasing availability of low-power wide-area network (LPWAN) technologies, which relieve utilities from having to string a communications wire to every single smart meter. Instead of creating a line of communication for each individual smart meter, they can connect to the Internet once or twice a day through a wireless LPWAN to deliver data.

Prepared to dive into the world of futuristic technology? Attend INNOTECH 2023, the international convention and exhibition for cyber, HLS and innovation at Expo, Tel Aviv, on March 29th-30th

Interested in sponsoring / a display booth at the 2023 INNOTECH exhibition? Click here for details!