Smart Grids

A smart grid refers to an electricity grid ecosystem (power generators, transmission and distribution networks) that is intelligent, responsive and efficient.

Smart grids represent a wide range of technologies, processes and even business models. At the base of it all is the effort to ensure that the grid and its key stakeholders - power generator, distributor and consumer - act in unison to make the whole grid efficient. A smart grid will also ensure lower CO2 emissions from the ecosystem’s higher efficiency.

Depending on the component of the smart grid being considered, it could either be fairly well developed or in its nascent stages. Some of them - such as grid monitoring and analytics - have evolved significantly in the last few years, while some others - such as those in the intersection of grid and the e-mobility ecosystem - are still in their development stages.

Smart grids are applicable for almost every country. However, owing to the cost of implementation, as well as the differing nature and stakeholder patterns in different countries, some countries could see much quicker developments than the rest of world during the 2020-2030 period.

The key challenges smart grids face are the high costs of implementation, the diverse set of stakeholders and complex nature of the overall ecosystem - all these could stand in the way of quick implementations.

Innovation in smart grids for the 2020-2030 period will be around the extensive use of a variety of digital tech (IoT, AI/Big Data especially), analytics, focus on power transmission & distribution efficiencies, demand response systems, integration with the renewable energy & e-mobility ecosystems, and capacity building for utilities for smart grid implementation and maintenance.

Industries impacted

  • Automobiles & auto components
  • Internet & online solutions
  • Computers & software
  • Construction & real estate
  • Electrical
  • Electronics & semiconductors
  • Oil & gas
  • Power
  • Road transport

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Themes & Topics

  • Power generation

  • Power transmission and distribution

  • End users

    • Industrial & commercial end users

    • Domestic end users

    • Demand side management

      • Peak shaving

  • Renewable energy & smart grids

    • Solar power

    • Wind power

  • Energy storage & smart grids

  • E-mobility & smart grids

    • V2G

  • Energy storage & smart grids

  • Low carbon buildings & smart grids

  • Technologies used

    • IoT

    • Big Data & AI

    • Cloud

    • Wireless

  • Software components

  • Hardware components

  • Education & capacity building

  • Collaboration

  • Policies

  • Case studies