In terms of the dimensions of benefits ensuing from a Smart Grid, reliability and cost reduction seem to outweigh other factors, namely environment, quality, and security etc. Generation firms will be able to include more renewable generation capacity Transmission firms will have leverage to expand the transmission lines through automation Distribution firms will push to expand intelligence at the downstream side of the network. As utilities, the Smart Grid will facilitate and extend their business chain in multiple ways. They will be well informed and able to influence the system at the same time. As electricity consumers, with Smart Grid they can enter directly into the power market. However, are these “benefits” truly beneficial to us? The short answer will be Yes, especially for the long term. Source: EPRI, Estimating the Costs and Benefits of the Smart Grid, 2011 In reality, with the boost from technology maturity, the Smart Grid is expected to improve grid reliability by (i) blurring the line of consumers and producers, subsequently power supply and demand, via encouraging “prosumers” of all generation and storage types and (ii) increasing multi-way real-time communications, finally automation, to reduce the lag and asymmetry of information.
Smart grids 2012 software#
That being said, the main difference of a smart grid and the traditional one will be the incorporation of new technologies, from the end-user hardware as sensors and batteries, design of substation software platforms, to the application of data science branches.
Smart grids 2012 update#
To exploit the benefits from the Smart Grid system with minimum social and financial costs, extensive regulatory inputs will be needed to reorganize the delegation of agents, update the tariff structure for consumers and provide incentives for new business models.Ī Smart Grid, by definition, refers to a modernization of the electricity delivery system so that it monitors, protects, and automatically optimizes the operation of its interconnected elements. Lacking a unanimous roadmap to the development of Smart Grid, it is crucial for utilities and regulators to plan for the future based on country-specific regulatory frameworks. Smart Grid, which extends ICT (Information Communications Technology) to the bulk power system, could provide us a new perspective on the integration of technology transformation. Despite the consensus on a call of smart technologies in the electricity sector, there is lacking a clear message on how and through whom to integrate the disruptive changes into our traditional power system.
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