The Internet of Energy (IoE) is a protocol that can be integrated into devices that produce, consume, or store electricity. It gives them the intelligence to communicate with one another and take collective action to unlock energy value for the individuals that own them and the network as a whole.

The platform consists of two layers — a base-layer communication protocol and an application layer. RedGrid is building the first applications on the Internet of Energy.

The first application RedGrid will be building is Market Responsive Asset Optimisation, which will allow users’ high consumption devices—such as HVACs—to automatically respond to external market prices and signals in order to reduce consumption and costs. This will be applied to households, commercial buildings and multi-building sites. The application will be integrated into utility demand management programs to pay users for reducing their demand peaks, easing strain on the grid.