How the Internet of Things is transforming and improving utility resource management

Utility resources such as water, electricity, and gas are essential to daily life, but their management needs to be improved. As businesses and individuals around the world progress in sustainability, it is becoming increasingly difficult to secure water supplies. Even when reservoirs reach satisfactory levels, water infrastructure is under pressure, water supply becomes unreliable, and water supply in some areas is interrupted for days or even seasons, which can be chaotic for the long-term impact on the utility sector. The Internet of Things is likely to change that.

Wirelessly connected devices are already starting to appear in utilities around the world, and this trend is only going to grow further. Some experts predict that IoT in the utility management industry will be worth more than $129 billion by 2035. But where does this growth come from? Here are five of the most significant benefits of IoT in this area.

1. Reduce costs

For many decision-makers, the most attractive advantage of IoT in the utility sector is cost reduction. Energy, water, and gas systems consume more resources than they need. This imposes unnecessarily high costs on the end user, but the precision that comes with IoT helps avoid this.

Smart transformer and anomaly detection technologies monitor usage and waste factors to determine exactly how much energy is needed for a given process. They then adjust in real-time to manage the desired outcome with as little resource consumption as possible. For example, if the building is insulated enough to maintain its set temperature for an extended period of time, the smart thermostat may turn off.

Reduce operational requirements and consume only what each user needs, which will ensure that the bill matches the actual usage. Even if needs and trends change, people can be sure that they will only pay for what they use.

2. Sustainability

More precise operations can make utility management more sustainable. In 2021, the U.S. wasted 65.4 trillion British thermal units of energy, more than twice as many as terminal services. Since most of the electricity comes from fossil fuels, this means an excessive carbon footprint and negatively impacts ESG goals.

Utility systems can virtually eliminate waste as IoT devices help assist with operational adjustments and use only what is needed. Even if they are still dependent on fossil fuels, they will consume less. As a result, daily electricity or water consumption does not have much of an impact on the environment.

IoT-driven operations will give management teams insight into where resources are coming from and where they're going. As cities strive to become greener, more data can provide more context for more effective change.

3. Improved maintenance

Another benefit is the impact on maintenance. IoT connectivity enables predictive maintenance, with sensors monitoring the health of equipment and alerting workers when repairs or attention are needed. Teams can resolve issues before they become bigger, reducing failures by 75% and downtime by 45%.

In addition, IoT connectivity can improve maintenance in the event of unexpected failures or other unforeseen problems. Smart sensors can detect when something is wrong and alert the relevant staff or third parties. As a result, utility services are more responsive and resolve issues quickly, with minimal need for evaluation or testing, as insights from sensors can provide insight into the problem.

Routine maintenance processes also benefit from the Internet of Things. With wireless sensors, staff can check the condition of the system without having to go to see it themselves. These daily tasks will take less time and cause fewer distractions, while reducing travel and rework.

4. Elasticity

With the development of the Internet of Things in utilities, maintenance benefits will improve the long-term resilience of the affected systems. 5G networks will support the rapid growth of the Internet of Things, enabling utilities to use more sensors at scale. Greater connectivity will lead to greater transparency and automation, making it easier to respond to extreme situations and prevent disruptions.

The grid will use data from IoT sensors to distribute power more efficiently based on changing demand, such as peak demand, adverse conditions, and seasonality. This helps manage sudden spikes in demand, ensuring that they don't cause widespread disruptions to the grid. Similarly, IoT devices can anticipate upcoming weather challenges and adjust operations as needed to be prepared.

Over time, IoT data may reveal larger problems in utility systems that businesses must address. Statistics on usage and waste can highlight inefficient water or leaking gas lines, prompting businesses to fix them. As utilities adjust to this view, these systems will become more resilient.

5. Accessibility

IoT in utility management will make management systems simpler. Crews will no longer need to physically travel to inspect meters or transformers, as they can access the necessary reports and initiate action from their phones or computers. This will save utilities money and help them become more proactive.

Similarly, customers can use an app to connect to these IoT devices to learn more about their usage patterns and bills. They can check the levels of energy and water used throughout the day and how this affects their costs. IoT control systems allow them to remotely turn off water, gas, or other utilities.

Implement IoT in utilities

The benefits of implementing IoT in the utility sector are impressive, and there are many issues that need to be addressed with this IoT adoption as well.

The most critical of these is cybersecurity. In the 2021 Colonial pipeline cyberincident, cyberattackers shut down an oil pipeline via ransomware, revealing how connected infrastructure could compromise critical utilities. Deploying more IoT devices means a broader cyber attack surface. Enterprises need to implement stronger security measures, such as advanced encryption, network segmentation, and zero trust architectures.

Utilities must ensure they have the right infrastructure in place to support a wide range of IoT networks. Widely used systems may have to wait until 5G becomes more widely available, and other systems should carefully consider which wireless protocol best suits their needs.

It's also important for customers and businesses to understand that this growth is a process. Making the most of IoT will require some larger structural changes, which will take time and expense. Starting small and expanding slowly is the best way forward.

All parties benefit from IoT utility management

Both utility companies and their customers can benefit from the use of IoT in utility management. As more organizations realize these benefits and take advantage of these technologies, such systems will become more cost-effective, resilient, accessible, and sustainable.

IoT-driven utility adoption may be a while away, but the movement has already begun. These technologies will transform the entire industry. They will enable operators and decision-makers in this area to provide more services to the benefit of consumers, citizens, and public and private entities.

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