Pecan Street Enhances Smart Grid Technology for Better Analytics
Utilities and energy companies are investing billions of dollars in upgrading and digitizing their electrical grids and metering systems. In a textbook example of the Internet of Things, these smart grids and smart meters use embedded, intelligent sensors to report massive amounts of real-time data about their operations and environments.
Companies that can process and analyze this data in near-real time—and handle it with appropriate privacy protections—are positioned to optimize operations, minimize service disruptions, and reduce costs. These companies can use data-driven insights to create innovative products and services, encourage appropriate energy usage, and increase customer satisfaction.
With near real-time insights into consumer and grid data, companies can incorporate smarter decision-support capabilities into demand-response solutions that align electricity consumption with supply. Companies can also use their analytic insights to show leadership on popular initiatives such as the industry-led Green Button effort to provide consumers with energy-consumption information and help them turn it into wiser energy use.
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