WG D2.53

The Internet of Things (IoT) represents the penetration, expansion and extension of the Internet into the physical world, connecting power system assets to themselves and to people. To achieve its full potential, data silos between operations and business management should be eliminated. The expected benefits of IoT are:  internal and external resources sharing, building industrial ecology, creating innovative business models, and promotion of digital transformation in companies. The IoT provides a new mode of production and consumption, with which the generated massive data become a valuable asset itself, thus lead to the extensive participation of stakeholders. It has become a core element of value re-creation and economic development in power systems.

In line with the development trend of the energy revolution and the digital revolution, the construction of the IoT is a new solution for challenges brought by power grid digitalization. Some of its effects are:

1. Improving full range perception: the perception of equipment in energy production, transmission and consumption sectors and consumers’ state.

2. Improving ubiquitous connectivity: realization of full-time, universal connectivity among energy sector stakeholders.

3. Improving the ability of integration and innovation: construction of the deep integration and data fusion between the “Internet of Energy” and “Strong & Smart Grid”. Establishment of resource sharing and creation, continuous innovation of energy Internet business.