
The world is highly dependent on energy which comes from different sources. Previously, people were more dependent on coal, fossil forces and other energies, but nowadays, people have become more conscious about using healthy sources of energy such as solar energy, water force energy, wind energy, etc. The world is changing rapidly, even in terms of energy production and energy consumption. Nowadays, energy is not only produced by global and big companies but also by several new and comparatively smaller companies as well as consumers. This rapidly-changing scenario leads to an increased demand and importance of the Smart grid in today’s world.
What is a Smart Grid?
A smart grid is a smart integrated network that allows energy distribution and digital communication technology to connect in a two-way flow of electricity and data. It is a smarter choice for utility companies as it allows them to generate, transmit and distribute electricity in a more efficient way. The consumers also benefit from the information and data provided, which helps them to understand energy usage and energy production in a better way. It also allows consumers to store energy-related equipment, such as EV batteries and solar panels, properly.The Market Status of the Smart Grid
According to recent reports, the market of smart grids is rapidly increasing across the globe. The global smart grid market size was USD 29.45 billion in 2020 and it is estimated that it is going to reach USD 140.53 billion by 2028 at a CAGR of 21.9% in the 2021-2028 period. So, the picture is clear. More and more people across the globe are willing to use smart grid technology which also increases the importance of advancements. It is where AI technology comes into the picture.What is the Difference Between a Traditional Grid and a Smart Grid?
The main difference between a traditional and a smart grid is that the smart grid allows the exchange of information in both directions across the network. The information flows from utility companies to consumers and vice versa. There are several advanced features that get incorporated into a smart grid, including
1. Advanced Technology
The most advanced technologies, such as digital technologies, cloud storage and AI, are incorporated into the smart grid, allowing the grid’s devices and assets to communicate more effectively. It offers better control and self-regulation. The addition of artificial intelligence services into these grids has made them more reliable and efficient.2. Distribution
The energy generated by producing consumers as well as renewable energy sources (For example, wind and solar energy) can be uneven. The latest smart grid technology coordinates, stores, and distributes power from these intermittent sources into a steady flow.3. Generation
The predictive analytics used in smart grids offers high-demand strains that can be distributed and forecasted to multiple plants without any hazards.4. Smart Sensors
There are advanced sensors, such as IoT sensors, that are used across the network to detect risks at an early stage. It allows the network to balance the load and reduce the outages without direct intervention by operators. These sensors can also detect mechanical problems at an early stage that allows simple troubleshooting and repairs. These sensors make the technicians aware when it’s necessary.5. More Choices for customers
It allows customers to get more choices in terms of energy suppliers, cooperatives and microgenerators.Use Cases of Smart Grid Technologies
Here are some use cases of this advanced technology which also represents the application of iot technology in the sector of energy. The list of use cases includes1. Smart Meters
An advanced metering infrastructure that works by providing a line of bi-directional communication between the device and the utility to gather, disseminate and analyze user energy consumption data. It not only provides real-time alerts around a meter or grid damage or outages but also increases energy savings and monitors as well as controls the power quality.2. Solar Farm Monitoring
This technology not only contributes to an increased ROI but also the reduction of Co2 emissions. IoT-based smart grids help solar farms to improve their operations efficiently. It not only improves predictive analysis but also contributes to streamlining maintenance with its advanced data analysis technologies. It also can easily get more out of each panel by optimizing for factors. There are also some other worth mentioning use cases, including battery monitoring systems, iot based EV chargers, etc.What are the Applications of AI in Smart Energy Solutions?
AI development services are vastly used to make smart grids meet all the requirements of the time. Here are some applications of AI technology in smart grids.