An IoT Approach to Consumer Involvement in Smart Grid Services: A Green Perspective

Abstract

The paper presents an innovative model for consumer participation in electricity market based on IoT. The goal is to develop a new business model and the underlying IoT infrastructure to enable the participation of individual household devices in smart grid services. The purpose of the proposed model is to allow for higher inclusion of renewable energy sources by providing cheap and flexible balancing services. The approach is based on the premise that consumers’ attitudes towards green energy and environmental protection are important incentives for acceptance of the proposed model, and as such should be closely monitored during its development. The proposed model has been evaluated through the study of consumer’ attitudes in the context of a smart grid in Serbia. The results show that consumers are interested in environmental conservation and are willing to participate in these new smart grid services.