(EnergyIndustry.Net, March 05, 2018 ) Grid optimization solutions are compact electrical devices that are used to detect and monitor power system equipment. These devices monitor electrical equipment such as transformers, arrestors, power cables, and other equipment installed in power plants or substations along with the demand-side management in smart grids. These devices are used in residential areas and offices to enhance energy efficiency. The benefits of grid optimization are to reduce the overall cost of delivering power to users, increase the reliability of grids, and ensure the efficient use of assets, thereby deferring the investments in generation, transmission, and distribution assets.
Publisher's analysts forecast the global grid optimization solutions market to grow at a CAGR of 11.36% during the period 2017-2021.
The transition from rigid structures to smart grids is driven by factors such as climate change policies, urbanization, and technological advancements. Smart grids offer advantages such as optimization to all grid functions by installing sensors, communication systems, and information technology. This makes the grid smarter and enables utilities to achieve the balance between cost, reliability, and efficiency. Moreover, this transition also assists utilities to obtain real-time control and improved data exchange that in turn will permit them to manage risks, maximize asset utilization, and carry out systematic maintenance to increase the network performance and efficiency.
Key vendors -ABB -Aclara Technologies -Eaton -General Electric
Other prominent vendors -Advanced Control Systems -Advanced Electronics Company -Arbiter Systems -Arteche -BEIJING SIFANG AUTOMATION -CGI Group -Doble Engineering Company -EKM Metering -Electric Power Group -Elster Group (owned by Honeywell)