The idea of a smart grid, and the smart meters that are used to measure it, came into fruition way before the Internet of Things. If we think about IoT primarily as the networking of physical devices to facilitate the exchange data, then energy & utility entities designing smart grids could be considered leaders of the early IoT movement.
However, there is a belief that IoT hasn’t stamped its presence in the utility industry yet. Most smart grid and meter projects have diverted all their attention to the meter-to-cash process (M2C). To sum this up, this process is the utility industry’s form of a standard order-to-cash process which fundamentally reading and collecting meter data, interpreting meter data, and then billing and collecting from customers on the basis of this information.
So how exactly can IoT impact utility companies and their smart meter initiatives in the near future?
Very interesting topic! Thanks!
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