Weekly Brief

Key Benefits of Smart Grids

Utilities Tech Outlook | Monday, January 09, 2023

The electrical grid supplying energy throughout a country consists of transmission lines, transformers, power generators, and several other components. Indeed, the electrical grid is a marvel of engineering and technology. However, these conventional electrical grids are becoming obsolete. They are inefficient and a significant burden, affecting their performances. As a result, there is now an increased focus on the smart grid. But how does it work, and what are its benefits? Below, check out some of the key benefits of smart grids.

1.What are Smart Grids?

A smart grid is a modern electric grid equipped with a two-way flow of electricity and data between consumers and power utilities. Unlike the conventional electric grid, smart grids are digital technology-based electricity networks.

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The smart grid is a more advanced form of the electric grid, relying on automation, communication, and IT systems to oversee the flow of power from points of generation to consumption. As a more modern version of an electrical grid, the smart grid leverages the power of digital transformation in improving electricity management, usually with the help of IoT technologies and big data.

An average household utilises electricity for various purposes, from cooking to refrigeration, heating, lighting, and even charging electric vehicles. Unfortunately, conventional power grids do not have advanced metering infrastructures that can keep track of electricity usage or measure electricity consumption. In addition, time-consuming and unreliable energy management methods are not well-equipped to deal with electrical power outages and other electricity-related issues.

Although conventional electrical grids are still in use, they are no longer as reliable. As a result, utility companies, governments, and power plant owners are switching to smart grids. Smart grids allow a two-way flow of electricity, offering greater accuracy over data. It has better technologies, including connected meters, supporting renewable energy transfers.

2.Better Security

One of the key benefits of smart grids is it provides better security. In fact, they are more secure than the conventional power grids. Smart grids are valuable and critical targets requiring a three-dimensional approach to protection. It secures hardware and applications and defends against all forms of cyber-attacks. They use embedded security solutions like the Intel® Trusted Execution Technology to protect the smart grid's data and assets.

It is also necessary for smart grids to rely on end-to-end security solutions to protect against attacks, identify them as quickly as possible, and take immediate action. For instance, Intel security solutions can provide end-to-end protection on IoT platforms with hardware and software-fortified security, creating a chain of trust - from network to cloud.

Another way to improve security and combat cyber threats on smart grids is to virtualise and consolidate separate grid control and monitoring systems on Intel-based industrial computers. Threat management on a smart grid can be done on a single platform, resulting in stronger and simpler cybersecurity efforts.

Smart Grid can tap into data analytics to identify potential safety hazards, allowing companies to take corrective actions and prevent accidents, which help to ensure that workers and consumers remain safe.

3. Easier Maintenance

Compared to conventional electricity grids, smart grids are much easier to maintain. Predictive maintenance of electric grids allows companies to identify potential issues before they can wreak havoc, which minimises the need for downtime and costly repairs. By optimising the maintenance schedules of the smart grid, companies will be able to lessen maintenance visits, which saves time and money.

Smart grid devices can gather data that companies can analyse to identify potential issues and take proper actions before they can lead to system failures. The improved system reliability and downtime reduction help ensure customers have continuous access to reliable power.

Predictive maintenance through data analytics is revolutionising how power companies, energy service providers, and transmission companies manage smart grids. By analysing data gathered from sensors and meters, these companies can identify potential threats before they can lead to problems. The data can also help reduce maintenance costs and improve asset utilisation. For instance, a smart grid can identify transformers operating at less than full capacity and then redistribute the load to other transformers, which reduces the need to upgrade to expensive equipment. 

Companies are currently spending massive amounts of money to repair and maintain obsolete infrastructures. Upgrading to a smart grid can help to lessen maintenance expenditures since it allows companies to track and report in real time.

Having insights into every transmission, generation, and distribution asset allows companies to conduct remote fault diagnosis, which lessens the need to visit sites. Furthermore, it also supports predictive maintenance, focusing on embedded software and engineering teams and areas with the greatest need.

4. Better Analytics

Smart grid analytics refers to a systematic analysis of data produced by the grids. Through these analytics, companies can gather a more precise interpretation, identification, and communication of data trends or meaningful patterns from the data that gets into it.

Data analytics and predictive maintenance can provide numerous benefits. One of these is improved utilisation of assets. By analysing the data from smart grid devices, companies can identify underutilised assets and find ways to optimise their use. Real-time gathering and analysis of millions of data require advanced smart grid technology, and smart grids can present millions of data points, offering opportunities for insights and improvement.

Many countries worldwide have invested in smart grid projects and have been showing success in this field. One of the most significant highlights is Italy's rollout, taking up to 71% of these projects. They install smart meters in all these projects and employ smart grid analytics to gather relevant information from the data, leading to increased interest and initiatives channelled to energy transformations and sustainability goals.

Smart grid analytics rely on real-time data and can generate information from high-speed data of different forms required for the grid's operation and prior knowledge of what to put in as resources. Digital data is now available on larger scales, such as zettabytes and exabytes. Manual methods and previous forms of data analytics are now redundant. In addition, the integration of renewable energy on conventional grids is increasing, and the need for smart grid analytics will follow suit.

 

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