Energy Internet (EI) has been recently introduced as a new concept, which aims to evolve smart grids by integrating several energy forms into an extremely flexible and effective grid. In this paper, we have comprehensively analyzed Internet of Things (IoT) applications enabled for smart grids and smart environments, such as smart cities, smart homes, smart metering, and energy management infrastructures to investigate the development of the EI based IoT applications. These applications are promising key areas of the EI concept, since the IoT is considered one of the most important driving factors of the EI. Moreover, we discussed the challenges, open issues, and future research opportunities for the EI concept based on IoT applications and addressed some important research areas.