Presently, the electricity grids are not able to come up with any information about how consumers utilize energy which is resulting in large-scale wastage of energy. With that, it makes it necessary to develop more efficient strategies for smart power distribution.
It has been initiated for the use of appliances, however, the presence of internet sources in enormous amounts at homes makes the smart grid more reliable to execute. Energy-efficient and eco-friendly grids are the future. Smart power distribution grids connect each and every element in an efficient and reliable manner. From power generation to electricity consumption, it integrates data and the energy grid with real-time monitoring.
Key Features and Advantages of Smart Power Distribution
Nowadays a number of electric utilities are reaching out for automated distribution for generating capacity and efficiency for energy. Following are some of the key benefits of smart power distribution:
Capability of rebuilding
Smart grids are capable of repairing themselves, coordinating and operating all parts efficiently of the system by lowering costs, and environmental impacts and reducing carbon prints.
Consistency of power quality
It is an important aspect for smart grids, sufficient power quality makes sure the compatibility between the equipment of the grids works in harmony.
In recent times, the growth in investments of smart grids has increased. According to the global smart power distribution systems market, it was valued at US$ 23.8 billion in 2021 and is projected to reach US$ 96.2 billion by 2030, at a CAGR of 9.7% during the forecast period.
New opportunities for tech companies
The upcoming and established tech companies will need more cash flow to ensure their contribution to smart grids from meter-making to networking equipment software. Companies like Cisco are working on smart grid technology projects.
Cost reduction and renewable
Once you install smart meters it can prove to be costly at first when installed. According to the Department of Energy, solar energy will become the best way to power your home, helpful in cutting energy costs and promoting an environment free of greenhouse gas emissions.
Electric energy system
As we know that smart grids are the future of the electric energy industry, it has the potential to change the energy industry into a new age and will be contributing to economic and environmental well-being.
With the introduction of clean energy like solar and wind energy, and utilizing it with effective planning contributes to sustainability.
Net Zero Emissions and Smart Grids
The Paris Agreement lays out a reliable and stable framework marking the dawn of the movement towards net zero emissions. At the global level, efforts are being made to significantly reduce carbon emissions from the world. Smart grid technology can be known as one of them.
Moreover, smart grids are sustainable solutions for generating electricity, as it improves the aggregate of renewable energy, increasing the capacity of clean energy which results in creating fewer emissions and superior quality of service.
Artificial Intelligence in Smart Power Distribution Systems
Artificial intelligence (AI) plays a significant role in understanding the effect renewable resources does on the system as a whole. With power utilization, we can use the data smartly and can gain valuable datasets.
Moreover, we can have an improved understanding of consumer behavior with real-time data analysis which will also be helpful in reducing electricity usage substantially. AMI networks like IBM corporation, Itron & Landis+Gyr are leading firms for smart grids. It also facilitates renewable energy sources that will prove helpful to many countries to achieve and meet their basic power requirements by utilizing clean sources of power.
AI tries to focus on the essence of human intelligence by using multiple techniques to understand and analyze human intellect either by machine or computer. AI is equipped with higher efficiency and reliability and has applications such as power generation, transmission, transformation, and distribution to consumption.
With the increasing demand for popular renewable energy, power generation is predicted to be stable, efficient, and economical for smart grids. There is equipment that is helpful in fault diagnosis and is proven to be flexible equipment for the smart grid.
AI is also helpful in the analysis of consumer electricity behavior, which will be helpful in identifying behaviors of users, and detecting abnormal power consumption among others. However, factors like data sample accumulation, reliability, and infrastructure in AI need to improve with time.
Latest Projects of Smart Power Distribution as of 2023
Smart grid is the new trend among the awake generation to save the earth’s ecosystem from depleting. Following are some projects that have been issued under renewable energy projects.
A Microgrid is a self-sufficient grid that uses renewable energy, batteries for energy storage, and generators to produce power.
They can work independently, giving access to the communities for more suitable and strong energy supplies.
Smart grid pilot projects
This project is shortlisted in India- CESC Karnataka which will support AMI, outage management, peak load management, microgrid, and distributed generation in the additional city area.
The Future is Smart Energy!
The growth of the contemporary world depends on clean energy consumption. The future belongs to the smart grids, while they are incredibly costly and challenging to make, these sure will have an astonishing effect on the environment, helping energy production and energy use in enormous amounts. Further, it will also be helpful in saving the delicate ecosystem of the earth.
This initiative will require a total transformation of the networking infrastructure used for power grids which will result in reducing carbon footprint and supporting new sources of renewability among many others. It can be said that there will be countless benefits for society as well as for the future generation to come by indulging and supporting radical changes with smart power distribution systems.