Internet of Things (IoT) is just a name for different things that are in some way connected to internet. Amongst them we find everything from washing machines, boilers and fork lifts to smoke detectors and dog collars. Then, by using an IoT platform like OpenMetering, it's possible to communicate with these things and control, read or localize them.
It stands for Individual Metering and Debit. By measuring the consumption of each and everyones utilities, you are given the means for each and everyone to pay for their own consumption. That’s all it is.
There is a lot of money to be saved in a housing collective, when getting a joint plan from the electricity provider. Only by removing the fixed charges from each individual household, the costs for installation can be paid for in a couple of years savings. On top of this it’s easier to negotiate a good unit price for the collective.
SDS: Thousands of SEK to save (news article in Swedish)