In Industry 4.0 new forms of data are affording Utility organisations unprecedented insight and transparency into asset health and availability. Consulting company McKinsey note that one of the greatest advantages of automated, data-driven technologies, such as IoT, is the ability to answer strategic questions quickly. The application of IoT in utility organisations positively impacts efficiency, revenue generation and resource conservation. With IoT, utility companies can optimize asset availability to meet the rising demands of a competitive and privatized market, whilst prioritising health and safety through real-time asset alerts.
Propelling Utilities with IoT
The application of IoT in Utility organisations is expansive with the potential to transform the Industry with unique capabilities such as:
Smart Meters. IoT Smart Meters empower utilities and end-customers to improve energy efficiency, reduce energy costs and contribute to a sustainable use of resources.
Smart Grids. IoT has made revolutionary advances in the utility grid. IoT devices play an important role in smart grids, enabling the creation of smart utility service. In turn, energy, gas and water usage can be proactively monitored and managed, optimising waste reduction, conservation, and sustainability goals
Predictive Maintenance. Smart connected IoT technologies allow for a more efficient model of asset management. Data is collected from connected smart machinery, through IoT devices transmitting data to the end user on when and where a potential failure may occur, reducing asset downtime.
Asset Optimisation. Utility assets are optimised with IoT. Component efficiency and lifespan are maximized whilst simultaneously limiting downtime, unnecessary expenditure and worker risk. McKinsey notes that predictive maintenance not only extends equipment lifespan but can eliminate up to 30% of the standard maintenance routine and up to 50% of equipment downtime.
Health & Safety Compliance. IoT in Utilities sectors such as oil and gas can improve health and safety compliance, protecting field workers from high-risk environments. Remote sensors indicate when an asset is volatile or hazardous or when working conditions are unsafe, simultaneously reducing work related injury and the associated costs.
Increasing numbers of GeoPal clients are using our expertise to deploy IoT sensors on their remote assets to monitor temperature, humidity, pressure, noise, etc. Alarms from these sensors trigger jobs on GeoPal based on business rules defined by our customers. This proactive field service management approach results in a 19% increase in asset availability. The GeoPal platform is Sigfox certified. Sigfox is a low power, wide area IoT data network, designed to connect billions of sensors to the cloud.