Verizon is using what it is known for—its 4G LTE network and cloud connections—to help utility companies use smart grid technology. Its Grid Wide Utility Solutions program is a cloud-based software platform that incorporates next generation sensors and smart meters onto the energy grid for companies to take advantage of through improved efficiencies and lower costs.

Verizon, in fact, was issued patents this year directed to implementing a revenue model related to lighting infrastructure, as well as communicating with devices controlling power systems, such as smart grid monitoring devices. With its vast wireless network and solid patent portfolio in the Energy Financial Settlement sector, Verizon is sure to continue expanding its utility partnerships.