Smart Grid Economics And Management

This book focuses on market/regulatory issues concerning smart grid applications, business cases and use cases. It covers the most relevant aspects of the smart grid—design considerations, economics, legal aspects and system management—and includes exercises at the end of each chapter. Since renewable energy generation is weather-dependent, it is more volatile, which affects market prices and the need for flexibility options including demand side management. In order to balance supply and demand in a sustainable manner also with high shares of renewables, energy systems need to be enhanced by smart grid technologies. This co-evolutionary transformation of the energy system, economic, societal, political and regulatory domains is challenging and calls for an integrated and interdisciplinary approach. This book provides an essential basis to prepare lecturers and students for engaging in the new energy world.

Explains the economics of electricity at each step of the supply chain: production, transportation and distribution, and retail.

This book aims to report on a cutting-edge research project of the smart grid in Japan, resting on the three pillars of field experiments, behavioral economics, and big data. The field experiments on the smart grid were conducted in four regions in Japan—Yokohama city, Toyota city, Keihanna Science City, and Kitakyushu city—over a three-year period from 2012 to 2014 after the Great East Japan Earthquake on March 11, 2011, and the subsequent accident at the Fukushima Nuclear Power Plants. Our focus here is on demand response in the smart grid environment, which we also discuss in the context of power system reforms. The book is intended for undergraduate and graduate students, researchers, policy makers, and business leaders.

This book is a contribution from the authors, to share solutions for a better and sustainable power grid. Renewable energy, smart grid security and smart energy management are the main topics discussed in this book.

Social Impacts of Smart Grids: The Future of Smart Grids and Energy Market Design explores the significant, unexplored societal consequences of our meteoric evolution towards intelligent, responsive and sustainable power generation and distribution systems-the so-called 'smart grid'. These consequences include new patterns of consumption behavior, systems planning under increasing uncertainty, and the ever- growing complexities involved. The work covers the historical impact of the transformation, examines the changing role of production and consumption behavior, articulates the principles and options for socially responsible smart grid power market design, and explores social acceptance of the smart grid. Where relevant, it examines adjacent literatures from P2P electricity markets, electric vehicles, smart homes and smart cities, and related 'internet of energy' developments. Finally, it provides insights into mitigating the likely social consequences of our integrated low-carbon energy future. Evaluates the connections between the concept of sustainability and the social impacts of the smart grids Analyzes emerging trends in smart grids connected with trends towards the sharing economy Investigates environmental degradation awareness and environmental stewardship goals associated with smart grids Explores how to mitigate social challenges with effective smart grid power market design Integrates energy stewardship and social acceptance literatures into the discussion of the smart grid

This book focuses on the role of systems and control. Focusing on the current and future development of smart grids in the generation and transmission of energy, it provides an overview of the smart grid control landscape, and the potential impact of the various investigations presented has for technical aspects of power generation and distribution as well as for human and economic concerns such as pricing, consumption and demand management. A tutorial exposition is provided in each chapter, describing the opportunities and challenges that lie ahead. Topics in these chapters include: wide-area control; issues of estimation and integration at the transmission; distribution, consumers, and demand management; and cyber-physical security for smart grid control systems. The contributors describe the problems involved with each topic, and what impact these problems would have if not solved. The tutorial components and the opportunities and challenges detailed make this book ideal for anyone interested in new paradigms for modernized, smart power grids, and anyone in a field where control is applied. More specifically, it is a valuable resource for students studying smart grid control, and for researchers and academics wishing to extend their knowledge of the topic.

Tobias Brandt outlines how information technology (IT) can be used to integrate sustainable energy technologies into existing infrastructures. The topic is approached from micro, meso, as well as macro perspectives. He first describes how IT artifacts can be used to manage renewable energy sources and energy storage devices in individual households and microgrids for an improved economic and ecological performance. The author proceeds by assessing the economic feasibility of aggregating electric vehicles for large-scale energy storage. The final chapter explores the issue of stability in automated mechanisms. A game-theoretical model is first introduced for financial markets and later transferred to the automated management of energy demand.

The current power system should be renovated to fulfill social and industrial requests and economic advances. Hence, providing economic, green, and sustainable energy are key goals of advanced societies. In order to meet these goals, recent features of smart grid technologies need to have the potential to improve reliability, flexibility, efficiency, and resiliency. This book aims to address the mentioned challenges by introducing advanced approaches, business models, and novel techniques for the management and control of future smart grids.