Smart Grid applies information and communi-cations technology into an existing grid in order to improve the reliability and economics of the production and consumption of electricity. A new market structure and automated metering system are essential to implement Smart Grid in the real world. Also, various pricing programs and demand responses need to be designed for the new market structure.
Advanced Metering Infrastructure (AMI)
Advanced Metering Infrastructure is comprised of state-of-the-art electronic/digital hardware and software, which combine interval data measurement with continuously available remote communications. This enables measurement of time-based information and frequent collection and transmittal of such information
Pricing Program & Demand Response (DR)
Pricing Program and Demand Response can be implemented based on advanced metering systems (e.g. AMI). Pricing Program offers choices to residential customers on ways to pay for their electricity usage. Demand response (DR) is a dynamic mechanism to manage customer consumption of electricity in response to supply conditions.
Renewable energy resources are widely integrated into electric power systems around the world. These resources are certain to have significant impacts on the system performance and efficiency and to necessitate advances in the planning and operation of the electric grid. The penetration of renewable resources to the electric grid produces technical challenges and provides opportunities to achieve a higher level of reliability and efficiency.