These are the dynamics behind the Internet of Energy (IoE). This has the goal of making the network infrastructure through which energy is supplied more agile and adaptive, in order to reduce costs and minimise wastage. A key aspect of IoE will be a decentralisation of the grid. Housing will have greater energy independence because of this. For a large proportion of homes, it will be possible for them to generate their own electricity using photovoltaic installations on their roofs, for example. Bi-directional charging using EV batteries will allow stored energy to be put back into the grid in return for financial remuneration, to satisfy consumption at times of highest demand. Alternatively this stored energy could be used for peak shaving, so that premium rate utility pricing is avoided.

In the future, meters will be interconnected with one another and participate in trading procedures. They will be able to buy and sell energy from one another, taking direct responsibility for tariff handling. As well as requiring the location of greater intelligence at the edge, there will also need to be enhanced security. Through the distributed ledger capabilities of blockchain, it will be possible to make certain that financial transactions are recorded correctly and protect against the threat of fraud.

Safe operation of the batteries employed for energy storage must be assured on a continuous basis. Through EBV, the advanced chipsets needed for battery management system (BMS) designs can be sourced. It will thereby be possible to take care of all the cell diagnostics and analytical functions needed to ensure that the health of the batteries being used in energy storage is maintained and they provide a long trouble-free working lifespan.