With the rise of smart energy technologies ranging from smart bulbs to smart grids, nontraditional energy companies, especially from the information communication and technology sector, are increasingly turning their attention toward the energy market.

Among those trying to gain a foothold in the energy market is LG Corp., which has a range of businesses including home appliances and electronics parts under its wing.

The conglomerate’s electronics, battery and chemical business affiliates showed off their prowess in the energy sector by introducing an array of energy-related products and solutions, including the world’s most energy-efficient solar panels and energy storage systems at the Conference of Electric Power Supply Industry 2014. 

The conference, a biannual international energy industry conference, was held from Monday through Wednesday on Jejudo Island.

Also on display at the conference was IT solutions developer LG CNS’ voltage management systems, which monitor the use of electricity in homes or offices and provide data analyzes to users to help them save power.

“The smart energy solution business is becoming one of LG’s most important future growth engines,” said an official from LG.

“LG affiliates will make concerted efforts to take a global lead in the rising energy technology market.’’

Internet giant Google has also been pouring resources into energy projects and attempting to acquire firms specializing in energy technology. 

Google’s acquisition of smart thermostat-maker Nest Labs for $3.2 billion this January is the latest of its numerous attempts to increase its presence in the energy sector. 

The California-based firm launched a PowerMeter program in 2009, which was later aborted, to allow consumers to monitor their energy use at home in near real time.

The Internet giant’s mapping service Google Maps is utilized for geographic information system platforms for grid mapping and management.

“Like the evolution of a smartphone combining smart and telecommunications technologies, we are now seeing convergence between smart and energy technologies,” said Kim Dae-kyung, a smart grid program director at the state-run Korea Institute of Energy Technology Evaluation and Planning. 

“As the smart grid industry grows further down the road, more ICT firms will hop on the bandwagon,” he added.

The global smart grid networking market will grow from $7.12 billion in 2014 to $11.61 billion in 2019, according to global market research firm MarketsandMarkets. 

Based on the market growth projection, telecom companies are ratcheting up their efforts to make inroads into the energy sector as well. 

South Korea’s mobile carriers SK Telecom and KT are developing smart energy management systems, capitalizing on their high-speed wireless networks. 

Both firms showcased their wireless energy management controllers and other products at the IT World Show, a sideline event of the ITU Plenipotentiary Conference, last week in Busan. 

On display was SK Telecom’s smart farm solution, which allows users to remotely control the temperature and humidity of greenhouses and indoor farms, and KT’s big data analytic solutions, which help manage household energy consumption.