LG Electronics' (LG) latest published patent application for the sector relates to an energy management device.

The energy management device is able to acquire the power and electric rates for a location, in real-time. In addition, the device is able to recognize the amount of currently used power and electricity in order to develop a program for reducing power consumption or electric rates, according to the circumstances.

The device also supports bidirectional communication between local area systems including power plants, electric companies, distributed power sources, other energy management devices, energy metering devices, or other electric devices.

LG is no stranger to the energy industry, with offerings including their Building Energy Management System (EMS), Factory EMS, Microgrid EMS, and Energy Storage Systems (ESS). LG's systems cover utilities, commercial properties, and residential properties.