Internet of Things A to Z

14The Emerging “Energy Internet of Things”

Daniel Minoli¹ and Benedict Occhiogrosso²

¹IoT Division, DVI Communications, New York, NY, USA

²Intellectual Property Division, DVI Communications, New York, NY, USA

14.1 Introduction

As discussed throughout this book, the Internet of Things (IoT) is finding applications in a wide array of industrial and commercial settings ranging from process control, to e-health, logistics, physical surveillance, crowdsensing, smart cities, smart buildings, and home automation applications. One area of particular interest where IoT can be used effectively is in supporting energy applications. The U.S. Energy Information Administration (EIA), the European Environment Agency (EEA), and the International Energy Agency (IEA), track and publish national and/or global energy data. These data help motivate why advanced management technologies are needed. According to the IEA, in 2013, the aggregate world energy consumption was 12.3 TW and expenditures on energy exceeded $6 trillion, or about 10% of the world total economic output (Energy Information Administration, 2015). In 2012 (the most recent data available), the world's electricity consumption was 18,608 TWh, which equates to a disbursement of approximately $2 trillion yearly. Europe consumes approximately 25% of the world's energy expenditures, North America approximately 20%, Asia Pacific approximately 40%, and the rest of the world (ROW) approximately 15% (Leonardo Energy/European Copper Institute, ...