Over the decades, digital technologies have empowered electric systems with standard Internet of Energy(IoE) concepts. Sustainable development, such as the power grid, energy automation, energy market platforms, and distributed energy resources (DERs), represent groundbreaking convergence of energy systems. By 2030, the IoE market is expected to grow at a CAGR of 11.2% as countries are heading towards renewable energy consumption. India actively participates in renewable energy projects like green hydrogen and solar power with substantial year-on-year growth.
With the four pillars of IoT (people, data, things, and processes), the Internet of Energy redesigns energy infrastructure with enhanced control and real-time data processing. Recently, innovations like smart metres and IoT sensors effortlessly optimise energy efficiency. In December 2023, the Indian government sanctioned over 222.3 million smart metres and targeted nationwide smart metre rollout by 2025. Furthermore, the National Smart Grid Mission was established in 2015 to increase capacity-building initiatives and distribute smart grids at every corner of India. Integration with automation, communication and IT systems empowers real-time monitoring and efficient outage management.
IoE is leading the pathways to smart cities with sustainable energy technologies. As a result, there will be less carbon emission, managed energy consumption, and high quality of life. Embedding IoE-based sensors in critical infrastructure like building energy utilities and transportation networks can enable real-time monitoring and effectively manage these assets. Global countries like Copenhagen in Denmark have already deployed IoT sensors on their streetlights to control energy wastage with automatic on and off switches and actively detect faults for instant action.
The future aspects of IoE are moving towards energy storage, from standard advanced battery management systems to grid-scale storage. This will support energy consumption during peak demand periods with less reliance on non-renewable energy sources. Additionally, IoE facilitates local energy generation with Microgrids and Peer-to-Peer Energy Trading solutions.
Researchers predict that IoT in the global energy market will grow to $35.2 billion by 2025. With the exponential demand for renewable energy, upcoming decades will witness the thriving use of sensors, actuators, and communication technologies for better control and automation in the energy landscape. Overall, three fuels—coal, oil, and solid biomass—meet 80% of India’s energy needs. Under the current market scenarios, India’s energy supply is projected to increase to 73 EJ by 2050 from 42 EJ in 2022. The ongoing trend of sustainable energy consumption will open the Indian market to stay ahead with IoT-based innovations.
