Business Model of Smart Microgrid

What is a microgrid business model?

With respect to microgrids, a business model defines the way in which a microgrid project or business is planned, implemented, and executed to meet strategic objectives. Strategic objectives can range from community resiliency to renewable energy integration to greater profit for a new economy enterprise such as a data center.

What is a smart microgrid?

Smart microgrids (SMGs) are small, localized power grids that can work alone or alongside the main grid. A blend of renewable energy sources, energy storage, and smart control systems optimizes resource utilization and responds to demand and supply changes in real-time 1.

What is the energy theft value of a smart microgrid?

The energy theft value was calculated to be 1199 W, proving that the system's theft detection model was effective. Smart microgrids (SMGs) are small, localized power grids that can work alone or alongside the main grid.

What drives microgrid development?

Resilience, efficiency, sustainability, flexibility, security, and reliability are key drivers for microgrid developments. These factors motivate the need for integrated models and tools for microgrid planning, design, and operations at higher and higher levels of complexity.

What is a microgrid planning capability?

Planning capability that supports the ability to model and design new microgrid protection schemes that are more robust to changing conditions such as load types, inverter-based resources, and networked microgrids.

Why do we need a microgrid?

Industry and the academic fields have developed and are developing sophisticated economic models on how utility costs and revenues affect the electricity rates offered to consumers. These models are a source of calculations for consumer savings and energy equity which, in turn, drive the outcomes of microgrid planning and design tools.