Smart grid: Promises and challenges

DUBLIN, IRELAND: Research and Markets has announced the addition of the "Smart Grid: Promises and Challenges" report to its offering.

Today's power grid is composed primarily of central generating stations and electromechanical power delivery systems operated from control centers. However the system is transforming itself into a smart grid that integrates a multitude of distributed energy resources, uses solid state electronics to manage and deliver power, and employs automated control systems.

The power industry, trailing behind other economic sectors already revolutionized by computerization (e.g. retailing and manufacturing), will see inexpensive computing power and low cost bandwidth infuse every element of the grid with digital intelligence in coming decades.

The grid will achieve greater throughput, thus lowering power costs. Grid upgrades that increase the throughput of the transmission grid and optimize power flows will reduce waste and maximize use of the lowest-cost generation resources. Better harmonization of the distribution and local load servicing functions with interregional energy flows and transmission traffic will also improve utilization of the existing system assets.

The vision of the smart grid is to break down barriers between transmission and distribution, communications, and back office systems to create a fully integrated network that provides diagnosis and resolution of problems as they arise and enables real time exchange of information between the utility and its customers.

Advanced metering plays a major role in any smart grid infrastructure, and wireless applications are at the heart of advanced metering communications systems. The wireless communications networks that will support advanced metering systems in the future will provide faster and more accurate use, load, and disruption information, which will help utility companies plan and manage their resources more efficiently and effectively.