GRID DIGITALIZATION: DISRUPTING THE POWER SECTOR

 “Building-to-Grid is an emerging trend in which digitalization is playing a major role (B2G). However, the majority of the literature focuses on either the grid, demand, or technical aspects of B2G integration, leaving out an overview of B2G digitization and the parties involved. To close these gaps, this study presents a description of the B2G ecosystem and offers a six-point overview of the B2G ecosystem's digitization (B2G goals and themes, B2G technologies, B2G data sources and data management, and B2G related stakeholders).”

Multiple divergent tendencies have the potential to change global power structures. Power providers must innovate and evolve to deal with the disruptions as electricity markets transform, technologies progress, industries converge, consumption patterns change, environmental concerns grow, and "prosumers" arise.

The latest industrial revolution is digitalization, and it has the potential to be the most important transformation in the energy sector since the industrial revolution. In the energy sector, digitalization is reshaping business, as is the demand for data interconnection and cybersecurity defence. Digitalization is a key component of the smart electric grid in the energy sector. Digitalization opens up new possibilities for smart energy generation, delivery, and consumption via a smart grid.

The power and utilities sector has long been the place where many parents or grandfathers put their savings as they grow older, attracted by low volatility while robust and dependable, the industry was not known for being cutting-edge, innovative, or interesting in any way. Its main objective was to keep the lights on without going bankrupt. Fast forward to today, and the electricity and utilities sector, although still laser-focused on reliability and price, appears to be evolving into an increasingly appealing, high-tech magnet for a slew of new companies. A lot of outsiders are eager to enter this industry, from huge conglomerates in the technology, retail, energy, and other sectors to asset managers and hot new tech startups.

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Major Market Highlights

  • Energy consumers in an unbundled electricity market like Denmark have two contracts: a distribution contract and a supply contract. The distribution contract covers everything related to distribution and metering. The supply contract is primarily about the electrical commodity. In Denmark, for example, the Distribution System Operators (DSOs) are in charge of installing and maintaining smart metres. Energy suppliers/retailers resell electricity to consumers after purchasing it from wholesale market producers or other suppliers/retailers. For billing purposes, electricity suppliers/retailers have access to the metering data acquired by DSOs. Electricity suppliers/retailers provide consumers with access to their data, which includes consumption and invoicing information.
  • Impact Solar, a Thai energy firm, teamed with Hitachi ABB Power Grids in May 2021 to provide an energy storage system for Thailand's largest private-owned microgrid.
  • Schneider Electric bought DC Solutions BV, a significant supplier of smart systems, in January 2021. This has aided the company in promoting electrical distribution improvements.
  • Siemens Energy unveiled its new Unified Power Flow Controller (UPFC) PLUS in September 2020, expanding grid stability options. In alternating-current grids, the UPFC PLUS assists system operators in grid stabilisation by dynamically managing load flow.
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