PISCATAWAY, N.J.--(BUSINESS WIRE)--IEEE, the world's largest professional organization advancing technology for humanity, today announced the public availability of a new report that it commissioned, detailing how energy storage, distributed generation and microgrid technologies stand to evolve given the rapid deployment of the smart grid across the globe over the next five years. Based on a survey of 460 global smart grid executives in September 2012, Zpryme Research & Consulting created the report, “Power Systems of the Future: The Case for Energy Storage, Distributed Generation, and Microgrids,” which is available for downloading at no charge via the IEEE Smart Grid web portal, http://smartgrid.ieee.org/, or from Zpryme Smart Grid Insights, http://smartgridresearch.org.
“In this way, the report illuminates how storage, distributed generation and microgrid technologies can support important new revenue streams for manufacturers, utilities, end users and third-party providers alike, spurring new global markets for software and systems that integrate these technologies into modern and future energy systems.”
“The smart grid is the premier technological and economic platform to build the 21st century, and this report details how energy storage, distributed generation and microgrid technologies are both fueling and feeding off of the smart grid engine,” said Andres Carvallo, a member of the Zpryme smart grid advisory board and executive vice president and chief strategy officer, Proximetry.
Added Wanda Reder, chair, IEEE Smart Grid: “The smart grid is a journey. The methods and technologies that undergird electricity delivery around the world have grown steadily more intelligent over decades, and now, with the smart grid, we’re challenging traditional norms that utilities and their suppliers have known. Energy storage, distributed generation and microgrids will prove to be critical elements in the transformation, as will incentives, standards, policy, and customer engagement. And all of those pieces must align logically within a long-range plan for society to efficiently realize the revolutionary benefits that the smart grid promises.”
Three “overall conclusions” are defined in the Zpryme report:
- Private- and public-sector funding for microgrid, distributed generation and grid-level storage research and development (R&D) and projects/pilots would contribute to more cost-effective solutions, inform better business cases and help reveal best practices around installation, application and optimization for the technologies.
- Europe is the global leader in adopting and utilizing distributed generation and microgrids, while North America is prominent in storage technology. The report says that these regions stand to “take the lead when it comes to developing and deploying next-generation distributed energy systems.”
- Energy management systems, distributed management systems and communications technologies are identified in the report as the critical enabling technologies for energy storage, distributed generation and microgrids, as well as advanced grid services such as net metering, load aggregation and real-time energy monitoring that in many cases will be delivered in the cloud.
“Key, interrelated themes emerged from the research behind the report, such as the necessity of customer demand to drive the market for the three technologies and, in turn, the need for customer feedback to infuse their R&D strategies,” continued Carvallo. “In this way, the report illuminates how storage, distributed generation and microgrid technologies can support important new revenue streams for manufacturers, utilities, end users and third-party providers alike, spurring new global markets for software and systems that integrate these technologies into modern and future energy systems.”
Survey respondents prioritized the benefits of each technology area. Energy storage’s “first-best benefit” was identified as the ability to provide supplemental power to meet peak demands. Distributed generation’s top benefit was identified as targeted addition of supply. And ability to meet local demand was listed as the top benefit of microgrids. The Zpryme report shows that the importance of all three technology areas is rising along with global interest in more efficiently managing energy consumption, growing electricity demand and increasing awareness of the cost of service interruptions.
To download the complementary Zpryme report “Power Systems of the Future: The Case for Energy Storage, Distributed Generation, and Microgrids” at no cost, visit http://smartgrid.ieee.org/. Follow @ieeesmartgrid on Twitter, or join the IEEE Smart Grid group on LinkedIn at http://linkd.in/udDFqG.
Zpryme-powered Smart Grid Insight Practice helps organizations understand their business environment, engage consumers, inspire innovation, and take action. This practice represents an evolution beyond traditional market research and consulting: combining sound fundamentals, innovative tools and methodologies, industry experience, and creative marketing savvy to supercharge clients' success. At Zpryme, we don't produce tables and charts; we deliver opportunity-focused, actionable insight that is both engaging and easy-to-digest. For more information about Zpryme, please visit www.zpryme.com and learn more at Zpryme Smart Grid Insights, www.smartgridresearch.org.
About IEEE Smart Grid
Since the inception of the global smart grid movement, IEEE has been at the forefront. IEEE leverages its strong foundation and collaboration to evolve smart grid standards, share best practices, and publish developments in energy transformation. Additionally, IEEE provides related educational offerings and hosts leading international conferences to further the smart grid efforts. Each year, IEEE hosts a range of international conferences on smart grid, power and energy topics, and provides professional and educational resources including the IEEE Smart Grid Web Portal, and the IEEE Smart Grid Newsletter. Learn more at http://smartgrid.ieee.org.
IEEE, a large, global technical professional organization, is dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice on a wide variety of areas ranging from aerospace systems, computers and telecommunications to biomedical engineering, electric power and consumer electronics. Learn more at http://www.ieee.org.