What is smart grid analytics?
The power sector is facing major challenges today; among the most pressing are access to reliable and affordable energy and a decentralized production from renewable energy sources. This requires the utilities to move from a traditional, one-way distribution of electricity from producer to consumer, to a modern distribution grid with prosumers and where the customer and environment are in focus. These challenges can only be met by a digitalized grid – in other words, a smart grid.
A crucial step in this transformation is to start collecting data from different points in the grid. The collected data is analysed to provide smart grid analytics – which is essentially the base for moving toward data-based decision making.
Smart grid analytics can be used throughout the energy distribution process; analysing data in energy production, in the transmission and distribution in the grid and finally in consumption. dLab targets the distribution grid segment with dInsight Analytics Platform, a collection of products and services installed in the primary substations, analysing the medium voltage grid, 10-40 kV.
Smart grid analytics is estimated to grow significantly over the coming years; a 2019 report from Frost & Sullivan indicates a CAGR (19-25) equal to 10,4%, reaching a market value of $2,31 bn USD by 2025(*).
(*) Frost & Sullivan, Global Smart Grid Analytics Market, Forecast to 2025 Big Data Analytics to Drive Utility Energy Management, Cost Reduction and Equipment Reliability, July 2019.