Chapter 3 - Recent developments of smart energy networks and challenges

Abstract

In the previous decade, smart meters have been placed all over the globe. By collecting load profiles and facilitating bidirectional information flow, the advanced metering infrastructure, which comprises smart meters, a communication network, and a data management system, plays a vital role in power delivery systems. Because smart meters are so widely used, a vast amount of fine-grained energy use data may be collected. Smart meters may soon be able to do more than just charge you. High-resolution data from smart meters deliver adequate information about consumers’ energy consumption patterns and lives. Meanwhile, power sector deregulation, particularly on the delivery side, continues to advance in several countries throughout the world. These countries are now concentrating all of their efforts on energy retail reform. Retailers, consumers, and aggregators are all working to make the retail business more prosperous, dynamic, and competitive. The utilization of massive amounts of data from smart meters to promote and enhance demand side efficiency and sustainability has become a global hot topic. In recent years, major advances in data analytics have been made in the power sector’s production, transmission, equipment, and consumption operations. There are an increasing number of smart meter data analytics projects being created.