IoT Devices Help Utilities Achieve Sustainability Goals

Energy and utilities are putting all their money behind environmental, social, and governance goals, working to reduce their environmental footprint and prioritizing sustainability. In fact, 91 percent of utilities say they have increased their ESG-related spending in the past three years, and more than half have done so by at least 25 percent, according to a PwC report. “This level of commitment is expected to continue to grow through 2024,” PwC predicts.

Conclusions? Greenwashing is no longer acceptable.

So with all these new investments, IT leaders must allocate resources to energy-efficient devices that can help their sustainability efforts. Fortunately for IT leaders, the Internet of Things meets these requirements.

Here are three ways IoT devices can significantly improve the sustainability efforts of energy and utilities, and why implementing them increases an organization’s chances of achieving ESG compliance.

Click the banner to find out why sustainability matters and what technologies can help.

1. IoT devices increase efficiency and offer real-time data

IoT devices are a necessity for the environment because they help organizations use energy efficiently. Take smart meters, for example. The Edison Foundation Institute for Electric Innovation predicts that 135 million smart meters will be installed in homes and businesses by next year. By installing smart meters and sensors throughout the energy supply chain (including power plants, transmission lines, and end-user endpoints), utilities can collect live data on energy usage, allowing them to fine-tune system performance and optimize energy use.

Smart grids are a prime example of efficient energy infrastructure. They use IoT technology to adjust the flow of electricity based on real-time supply and demand, reducing energy losses and improving network efficiency. Grids can also distribute energy more evenly across the network.

2. IoT devices improve resource management through monitoring

Increasing energy efficiency and comprehensive sustainability practices require continuous monitoring. IoT devices provide exactly the types of metrics that organizations need.

“IoT-enabled asset monitoring is revolutionizing the energy and utilities sector by providing real-time visibility into asset performance, condition and location,” said Jill Klein, head of emerging technologies and IoT at CDW BizTech This year. “Remote monitoring capabilities enable early issue detection and faster incident response times, improving employee safety and operational efficiency.”

IoT devices can also help monitor water and gas consumption more effectively by providing precise data on consumption patterns. For example, IoT sensors can detect leaks in pipelines and inefficiencies in water management systems, enabling timely repairs and other adjustments that reduce resource waste.

“IoT-based predictive maintenance helps extend asset life and improve overall operational efficiency,” says Klein.

Drones, another member of the IoT family, can also survey sites and utilities to prevent potential complications before they occur. This technology helps conserve resources, enabling teams to minimize downtime and meet sustainability goals, Klein notes.

91%

The percentage of utilities that have increased spending on ESG initiatives over the past three years

Source: pwc.com, “ESG Survey for Utilities”, December 2021

3. IoT enables advanced data analytics for sustainable operations

IoT devices also provide advanced data analytics that give teams greater insight into their sustainability efforts. IT leaders can use data from IoT devices to predict equipment failures, optimize maintenance schedules, and even forecast environmental conditions that could affect the distribution of energy production.

IN THE FUTURE: Energy and utilities solutions for a safe and sustainable future.

IoT devices in wind turbines, for example, can collect wind speed and direction data to help optimize turbine operation, maximizing energy production while minimizing consumption. This allows the turbines to operate more efficiently for longer periods of time. This is also the reason why recent research says that IoT technology is an essential element in the operation of wind energy microgrids.

By combining analytical tools, teams have concrete data at their fingertips, so they can clearly see resources saved and directly track the achievement of ESG goals.