Today’s level of IoT growth and adoption reminds me a lot of the pre-cloud hosting days. You know, when people used to actually buy hardware and host it in the telco closet of their office building on a T1 line. Similar to cloud hosting which took the better half of a decade to see full enterprise adoption, there is a lot of fear surrounding security and a lot of the ROI calculations can be a bit cloudy.
There are more than 20B IoT connected devices online (in 2017 according to IHS). This number is predicted to see a CAGR of 33% over the next decade. So the question begs to be asked, how do commercial and industrial operators get value from IoT as technologies evolve? Simply put, IoT requires imagination to deliver value from a blank canvas. A change in traditional architecture requires a change in goals based on evolving capabilities of IoT technology.
In a nutshell, demand response is a programmatic approach to energy curtailment during peak hours. Peak hours are normally established by each local electric utility, and during those hours the cost of energy is traditionally much higher than off-peak hours. Peak charges are a supply and demand game to help utilities balance power production with consumer demand.