The issues related to Asset Management in Renewable Energy Based Smart Grids

Image Source: Smart Energy International

In this blog post, the Norvergence team presents the importance, issues, and challenges related to Smart Grid in context with Asset Management.

Uncertainty in the load demand profile and aging assets create a challenge for the optimal operation.  Solving these issues reduce the risk of equipment failure, extend the equipment life and minimize the occurrence of an unplanned outage.

Overview of Asset Management in Smart Grid

There is no doubt that the assets of smart grid management are complex as it involves various integrating techniques for new assets, collecting and analyzing smart asset data, and the most crucial one deploying various analytics of AM and managing an increase in asset volume.

While streamlining the process, the following hurdles arise:

•       No effective communication infrastructure exists to facilitate management.
•       Most of the time local controls invite major blackouts.

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Important tools for Asset Management

Following are some important software tools for asset management:

Planning Systems:  To model the network and analyze its performance under existing and projected load conditions.

Geographical Information System: It is used to design new facilities, model the relationships of

assets to the electrical network.

Asset/Work Management Systems: It keeps records like asset lifecycle tracking.

Fixed Asset Accounting: To manage the property records of the business from a financial value

Standpoint.

DMS: It combines the network model and analytics of a planning tool with the real-time infrastructure.

Smart Grid is the Route to a Truly Renewable Energy System

The future smart grid could even resemble a brain. One example of it is the following:

Professor Rajit Gadh, director of UCLA’s Smart Grid Energy Research Centre (SGERC) said that the research center is developing a mobile application that will allow consumers to automatically schedule their appliances to be used during off-peak periods.

With an app, the consumer could also turn off their rooftop solar panel or an electric car charging station, and that is completely different from a grid operator having complete control. The consumer in California and in several places around the world is becoming educated about energy resources and is driving the policy. They are saying ‘I want to control’.”

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By George Stacey who is an environmentalist, journalist, and writer at Norvergence LLC whose work stirred people up and helped launch a new age of environmental awareness across the globe especially in the United States of America. Apart from Norvergence LLC, she writes frequently for a wide variety of publications across the world, including Nation of Change, Age of Awareness, ESI Africa, Enviro Nigeria and many more.

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