Profitability of smart grid solutions applied in power grid

Abstract

The idea of smart grid solution has been developing for years, as a complete solution for the power utility, consisting of different advanced technologies aimed at improving the efficiency of operation. The trend of using various smart systems (such as implementation of energy management systems, grid automation systems, advanced metering infrastructure, smart power equipment, distributed energy resources, demand response systems, etc.) continues to develop. In this respect, emerging technologies (energy storages, electrical vehicles or distributed generators) become integrated in distribution networks and systems. Nowadays, the idea of smart grid solution becomes more realistic owing to full integration of all advanced operation technologies (OT) within IT environment, providing the complete utility digitalization (IT/OT integration). The overview of smart grid solutions, estimation of investments, operation costs and possible benefits are presented in this article, with discusison about profitability of such systems.