The Smart Grid ain't so smart. Yet.

Published on 03/22/18 | Saurav Sen | 1,950 Words

The BuyGist:

  • Renewable Energy will decentralize electricity production if...
  • ...Electricity Storage technology turns a corner.
  • If that happens, the Power markets will be in flux.
  • The Grid will have no choice but to smarten up. 
  • Data will need to be gathered and transferred seamlessly. 
  • Logically, sensors and wireless communication companies should gain from this.

Smart what?

A Smart Grid is an electricity network that knows precisely – in real-time – how much electricity is needed, where it’s needed, along with how much supply there is, and from where the supply is sourced. This should be an Economics professor’s greatest fantasy – real-time perfect information, omniscient market participants, perfect competition, and finally where supply and demand determine prices.

Economists should rejoice because it’s probably not going to be fantasy much longer. In a few years, a Smart Grid might become a necessity as opposed to cool new experiment conducted by hippies. And that’s because of impending changes in technology from both the supply side of electricity and the demand side. On both sides, the disruption is a potent combination: Renewable Energy + Storage.

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