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The IoT of Energy | From Smart Products to Intelligent Solutions

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Rapid changes in consumer, business and industrial products and technologies, the proliferation of sensors and digital footprints and sophisticated data analytics are driving transformational shifts in many sectors. The energy sector has responded to this change with more energy efficient appliances, digital retail innovations and progressive smart grid investments, but this is modest relative to many others.

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The IoT of Energy | From Smart Products to Intelligent Solutions

  1. 1. www.advisian.com Jamie Silk | March 2017 The Internet of Things of Energy From Smart Products To Intelligent Solutions
  2. 2. • Developments in the IoT of Energy • The opportunities for energy efficiency, demand response and customer satisfaction • How the data from the IoT can assist retail and infrastructure in developing strategy A whistle stop tour of …
  3. 3. There’s been a dramatic change in: consumer and business technologies, connectivity, sensors, data, analytics, industry/sector convergence.
  4. 4. Energy is a little smarter: it has efficient/smart appliances and systems, digital retail innovations, smart network upgrades.
  5. 5. Global experts predict transformation in energy but is it just hype or is New Zealand (NZ) simply different: high use of renewables in NZ; for the tech savvy is it convenience not savings that count?
  6. 6. Internet of Things of Energy The catalyst is coming to transform the IoT of Energy from peripheral smart products to intelligent solutions
  7. 7. The IoT enables the transactive grid and new consumer opportunities The Internet of Energy Big Data and Analytics Consumer Energy Assets The Sharing Economy
  8. 8. Integrating these can drive dramatic change to energy supply and consumption… “
  9. 9. But innovating IoT for energy services can be complex: Need to understand what engages individuals and their choices. Complex dialogues are costly. Timing is everything. Smart appliances must be simple to use. Relevance and convenience are key
  10. 10. The Opportunities Developments in the IoT of energy needs intelligent, relevant engagement; convenient execution.
  11. 11. This year’s Consumer Electronics Show is the craziest yet, as the falling cost of sensors means the internet of things is finally a reality… FT.com “
  12. 12. The promised maturity of voice artificial intelligence (AI), combined with analytics over our digital footprints, means personalised consumer dialogues are imminent… “
  13. 13. Making it convenient, easy and simple to do what you are thinking … Example: … Nvidia’s Spot’s AI mini mikes in wall sockets, or Alexa in your Ford car or device Voice artificial intelligence
  14. 14. Facilitating convenient, personally relevant dialogues… Example: … cheap sensors, digital footprints and data analytics to personalise dialogues. XNOR.AI runs on every device Intelligent Personal Assistants (IPA)
  15. 15. Enabling building blocks to intelligent and convenient engagements are developing “
  16. 16. Digital contracts and transaction verification secure real-time logging of every transaction, with instant access for automated decision or settlement… …anywhere, device to device. Building block: Blockchain
  17. 17. Building block: connected hardware • Choice, functionality and cost • Electric vehicles, connected vehicles, energy storage, photovoltaic (PV) self-use devices, sensors • Connected storage choices have proliferated • CSIRO predicts a 53% decrease in prices by 2025
  18. 18. Fault Location Isolation and Service Restoration (FLISR), distributed resource management systems, real-time ratings Building block: the industrial IoT - smart grid
  19. 19. Standards, cyber-security, product connectivity and continuity are developing but… “
  20. 20. Energy Smart Tech Investment 2014 to 2015 Global energy smart tech investment Energy Smart Tech Investment 2015 to 2016 -2% +30% Source: Bloomberg New Energy Finance 2016 Global energy smart tech investment kicked in to growth in 2016 (as clean energy investment fell 7%)
  21. 21. The Power of Data How can the data from the IoT assist retail and infrastructure in developing strategy?
  22. 22. For strategy to be possible … it is necessary to … evaluate the possible consequences of alternate courses of action. Bruce Henderson, BCG, 1981
  23. 23. • Opens up rich new sources of knowledge to inform strategy • Will change how we transact and execute every day • Unlocks the value of the energy internet for consumers and business The data from the IoT:
  24. 24. • Optimise across operations, services, products or convergent industries • Deeply understand consumers (preferences, behaviours, related activities, environmental or material factors) • Deliver increasingly dynamic, predictive solutions The energy internet and data analytics can:
  25. 25. Adapting to analysed operational and environmental data to optimise asset utilisation, asset life, and investment choices. Asset fleet, network design and operations strategies
  26. 26. • Chief Data Officers, Data Scientists required • Architecture for millions of data points and sources • Maturing analytically from surveillance to optimisation to predictive • Cyber security IS strategy adapts to data volume, velocity, variety and complexity
  27. 27. IoT data provides … • Contextual inputs to what very different consumers do, why and when • Lead indicators on how their needs and preferences will change • Dynamic, connected and automated engagement across convergent sectors Customer strategy
  28. 28. The “crazy” AI enabled IoT… … an intelligent, convenient and relevant pathway to new business and consumer outcomes. The Internet of Energy Big Data and Analytics Consumer Energy Assets The Sharing Economy
  29. 29. www.advisian.com DISCLAIMER This presentation has been prepared by a representative of Advisian. The presentation contains the professional and personal opinions of the presenter, which are given in good faith. As such, opinions presented herein may not always necessarily reflect the position of Advisian as a whole, its officers or executive. Any forward-looking statements included in this presentation will involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies—many of which are outside the control of, and may be unknown to, Advisian. Advisian and all associated entities and representatives make no representation or warranty as to the accuracy, reliability or completeness of information in this document and do not take responsibility for updating any information or correcting any error or omission that may become apparent after this document has been issued. To the extent permitted by law, Advisian and its officers, employees, related bodies and agents disclaim all liability—direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Advisian and/or any of its agents)—for any loss or damage suffered by a recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

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