'Smart grids' terminology won't cut it, says Budde. It has to be 'smart energy'
July 4, 2012. BUSINESS WIRE — Research and Markets has published a report entitled ‘Australia – Smart Energy – Trends and analyses 2012’ by Paul Budde Communication Pty Ltd. BuddeComm, an independent research and consultancy company focusing on the telecoms market, believes that the term ‘smart grids’ is too narrow.
With a better understanding of the complexity involved in the transformation of the electricity industry, the words ‘smart energy’ are becoming more prominent and eventually will become the accepted terminology, especially once the communications developments in national broadband networks and mobile broadband start to converge with smart grid developments.
Smart energy signifies a system that is more integrated and scalable, and which extends through the distribution system, from businesses and homes and back to the sources of energy. A smarter energy system has sensors and controls embedded into its fabric. Because it is interconnected there is a two-way flow of information and energy across the network, including information on pricing. In addition to this it is intelligent, making use of proactive analytics and automation to transform data into insights and efficiently manage resources.
This links with the internet of things’ (IOT). For this to happen various functional areas within the energy ecosystem must be engaged – consumers; business customers; energy providers; regulators; the utility’s own operations; smart meters; grid operations; work and asset management; communications; and the integration of distributed resources.
With energy consumption expected to grow worldwide by more than 40% over the next 25 years, demand in some parts of the world could exceed 100% in that time. This will produce an increase in competition for resources, resulting in higher costs. In an environment such as this energy efficiency will become even more important.
For more information, go to: http://www.researchandmarkets.com/research/kjjmxz/australia_smart