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44 Internet of Things Strategic Research and Innovation Agenda
Fig. 2.19 Internet of energy: Residential building ecosystem [44].
the user, thus allowing for identification and elimination of energy wasting
devices and for providing hints for optimizing individual energy consumption.
In a smart grid scenario energy consumption will be manipulated by a
volatile energy price which again is based on the momentary demand (acquired
by smart meters) and the available amount of energy and renewable energy
production. In a virtual energy marketplace software agents may negotiate
energy prices and place energy orders to energy companies. It is already recognised
that these decisions need to consider environmental information such
as weather forecasts, local and seasonal conditions. These must be to a much
finer time scale and spatial resolution.
In the long run electro mobility will become another important element
of smart power grids. An example of electric mobility ecosystem is presented
in Figure 2.20. Electric vehicles (EVs) might act as a power load as well as
moveable energy storage linked as IoT elements to the energy information
grid (smart grid). IoT enabled smart grid control may need to consider energy
demand and offerings in the residential areas and along the major roads based
on traffic forecast. EVs will be able to act as sink or source of energy based on