Common financial measures used in financial portfolio management are suitable for measuring market risk in smart grid projects, according to research from the University of Vaasa, Finland.Rayko Toshev’s doctoral thesis in Industrial Management “Risks and Prospects of Smart Electric Grids Systems measured with Real Options” analyses electricity price risk levels and evaluates smart grid R&D projects and technology opportunities, using real option pricing method.”My work analyses Nord Pool Spot electricity prices for Finland, Sweden Norway and Estonia and computes market risk level using standard financial measures, such as Volatility and Value at Risk”, says Toshev.
ComEd will collaborate with Illinois American Water to transmit water meter data through ComEd’s smart grid network. This innovative proof-of-concept collaboration will leverage ComEd’s existing digital smart grid network to help Illinois American Water better manage water data, unlocking potential new value for customers from ComEd’s smart grid investments.Currently, ComEd is testing the use of smart water meters on its network in Illinois Tech’s Center for Smart Grid Application, Research and Technology (CSMART), including testing of meter connectivity and meter reads. Now the concept will move from the lab setting into field testing. The collaboration between Illinois American Water and ComEd could include up to 500 smart water meters and will enable key learnings for both utilities.
Energy storage systems continue to grow in popularity as renewable energy sources like wind power are connected to the grid at an unprecedented rate. California alone plans to commission 1.3 gigawatts of storage by 2020, and similar trends are being seen globally. In Canada, the Government of Ontario’s Long Term Energy Plan (“LTEP”) calls for a total of 50 MW of storage capacity. Although this may not seem like much in comparison, with Canada’s focus on energy policy, energy storage is expected to become critical to the success of policy goals affecting de-carbonization and enabling a true “Smart Grid.”
Southeast Asia (SEA) is estimated to be the fastest growing smart grid market in APAC region, says a new report from Frost & Sullivan.South Korea and Japan will continue to be the hot spots for smart grid project deployment in North Asia during the forecast period, the report synopsis said.Investments in smart grid test-bed in Thailand, home energy management systems (HEMS) installations in Singapore, and advanced metering infrastructure (AMI) rollouts in the Philippines are expected to drive the market.
In 2015 ComEd achieved record reliability for a third year in a row, much of it due to smart grid work begun in 2012. This modernization work, along with ComEd’s focus on customer engagement, helped position Illinois as the second in nation in the 2015 Grid Modernization Index (GMI). The report, produced by the GridWise® Alliance and the Smart Grid Policy Center, evaluates and ranks states based on their progress in modernizing their electric systems with smart grid technologies. The GMI applies a clearly defined set of criteria to evaluate the progress of state grid modernization efforts in three key areas: policy, customer engagement and grid operations.
The report covers forecast and analysis for the smart grid market on a global and regional level. The study provides historic data of 2014 along with a forecast from 2015 to 2020 based on revenue (USD billion). The study includes drivers and restraints for the smart grid market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smart grid market on a global level.According to the report, global smart grid market was valued at approximately USD 40.0 billion in 2014 and is expected to reach around USD 120.0 billion in 2020, growing at a CAGR of slightly above 18% between 2015 and 2020.
General Electric Co.’s Global Research division located near Schenectady, New York, has received a $3.9 million U.S. Department of Energy grant to develop electrical grid improvements.The grant comes from the Department of Energy’s Advanced Research Projects Agency-Energy agency as part of its new Network Optimized Distributed Energy Systems program.
Today, the Smart Grid Consumer Collaborative (SGCC) released Consumer Voices, a new study that brings to life the thoughts, actions and values that are driving consumer’s adoption of smart grid technologies. Consumer Voices provides a unique look at the factors that underpin consumers’ conscious choices as they relate to the smart grid, smart meters and associated products and services
Honeywell has partnered with Pearlstone Energy to provide a smart grid that will pay industrial facilities in the UK to reduce their energy consumption during periods where electricity demands exceed availability.Honeywell will provide the technology needed to enable these reductions, free of charge.The aim is to reduce UK energy bills, improve the UK’s power reliability and help fulfil carbon reduction commitments.
Unveiled at the 21st annual UN Conference on Climate Change, the new partnership between Nissan and multinational energy provider Enel aims to bring Smart Grid technology to Europe in the near future.The concept behind the tech centres around using an updated version of the traditional underground power grid, known as a Smart Grid. Nissan proposes creating a symbiotic relationship of sorts between the grid and a new wave of electric cars. Known as Vehicle-to-Grid, the process will see energy used to charge up your car can then be redistributed back into other areas, essentially turning your motor into a rolling energy hub.