The U.S. power grid summons to mind colossal-sized images: sky-high transmission towers, enormous generating stations and soaring high-voltage transmission lines. It’s a vast, mature and highly complicated infrastructure that continues to keep our homes and businesses illuminated, temperature controlled and vibrantly humming with energy.
The current grid is made up of 2.7 million miles of power lines with power from 5,800 power plants regulated by 3,200 utilities. According to the U.S. Energy Information Administration, fossil fuel power plants using coal, oil or natural gas generate 70 percent of the power for the U.S. with nuclear power plants generating 20 percent. There is a need to not only address the current grid model, but to improve the grid, how we access it and, more importantly, how we pay for energy.
As markets rapidly evolve in an increasingly connected world, power grid technology is physically becoming smaller and our energy density is becoming greater. Thanks to wireless communications and innovative software applications, we are able to integrate electricity generation, transmission and load with data analytics to better understand what is happening on both sides of an electrical meter. It’s called Grid 2.0, and it’s no longer the grid of the future thanks to the Internet of Things (IoT). It is quickly becoming the grid of the here and now, analyzing and integrating data, and adjusting, distributing and personalizing energy based on real-time supply and demand.… Read More