Demand Forecasting and Smart Devices as Building Blocks of Smart Micro Grids

The Internet of Things aims at creating smart environments. One of those fields of applications are smart micro grids. In those grids the energy producers and consumers become smart in the sense that they can plan and coordinate their actions. For those local grids, like groups of office buildings or households, a typical goal can be to minimize energy costs. In this paper we investigate the abilities of smart grids to reduce energy costs using forecast information, as well as planning and coordination techniques.