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A Generic Framework for the Evaluation of the Benefits Expected from the Smart Grid

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  • Spiros Livieratos

    (School of Pedagogical and Technological Education, Department of Electronic Engineering Educators, Heraklion, Athens 14121, Greece)

  • Vasiliki-Emmanouela Vogiatzaki

    (School of Pedagogical and Technological Education, Department of Electronic Engineering Educators, Heraklion, Athens 14121, Greece)

  • Panayotis G. Cottis

    (School of Electrical and Computer Engineering, National Technical University of Athens, Iroon Polytechniou 9, Athens 15780, Greece)

Abstract

The Smart Grid has the potential to bring significant value to the various stakeholders of the electricity market. A methodology for the evaluation of the smart grid benefits is required to facilitate the decision making by quantifying the benefits expected from a smart grid project. The present paper proposes a generic framework to assess these expected benefits taking into account the regulatory, business and technical challenges focusing particularly on Distributed Systems Operators (DSOs) and end users. An indicative study case is presented where the proposed cost-benefit approach assesses the expected value of DSOs from the Smart Grid and determines whether and under what conditions such an investment should be initiated.

Suggested Citation

  • Spiros Livieratos & Vasiliki-Emmanouela Vogiatzaki & Panayotis G. Cottis, 2013. "A Generic Framework for the Evaluation of the Benefits Expected from the Smart Grid," Energies, MDPI, vol. 6(2), pages 1-21, February.
    • Handle: RePEc:gam:jeners:v:6:y:2013:i:2:p:988-1008:d:23588
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    References listed on IDEAS

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    1. Bushnell, James B. & Stoft, Steven E., 1997. "Improving private incentives for electric grid investment," Resource and Energy Economics, Elsevier, vol. 19(1-2), pages 85-108, March.
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    3. de Nooij, Michiel & Koopmans, Carl & Bijvoet, Carlijn, 2007. "The value of supply security: The costs of power interruptions: Economic input for damage reduction and investment in networks," Energy Economics, Elsevier, vol. 29(2), pages 277-295, March.
    4. Nykamp, Stefan & Andor, Mark & Hurink, Johann L., 2012. "‘Standard’ incentive regulation hinders the integration of renewable energy generation," Energy Policy, Elsevier, vol. 47(C), pages 222-237.
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    Cited by:

    1. Jesús Rodríguez-Molina & Margarita Martínez-Núñez & José-Fernán Martínez & Waldo Pérez-Aguiar, 2014. "Business Models in the Smart Grid: Challenges, Opportunities and Proposals for Prosumer Profitability," Energies, MDPI, vol. 7(9), pages 1-30, September.
    2. Deniz Sun & Luis Olmos & Michel Rivier, 2020. "Considering Local Air Pollution in the Benefit Assessment and Cost Allocation of Cross Border Transmission Projects," Energies, MDPI, vol. 13(6), pages 1-20, March.
    3. Qi Wang & Yi Tang & Feng Li & Mengya Li & Yang Li & Ming Ni, 2016. "Coordinated Scheme of Under-Frequency Load Shedding with Intelligent Appliances in a Cyber Physical Power System," Energies, MDPI, vol. 9(8), pages 1-14, August.
    4. Rafael Real-Calvo & Antonio Moreno-Munoz & Juan J. Gonzalez-De-La-Rosa & Victor Pallares-Lopez & Miguel J. Gonzalez-Redondo & Isabel M. Moreno-Garcia, 2016. "An Embedded System in Smart Inverters for Power Quality and Safety Functionality," Energies, MDPI, vol. 9(3), pages 1-25, March.
    5. Seong-Kyu Kim & Jun-Ho Huh, 2018. "A Study on the Improvement of Smart Grid Security Performance and Blockchain Smart Grid Perspective," Energies, MDPI, vol. 11(8), pages 1-22, July.
    6. Moretti, M. & Djomo, S. Njakou & Azadi, H. & May, K. & De Vos, K. & Van Passel, S. & Witters, N., 2017. "A systematic review of environmental and economic impacts of smart grids," Renewable and Sustainable Energy Reviews, Elsevier, vol. 68(P2), pages 888-898.
    7. Yi Liang & Yingying Fan & Yongfang Peng & Haigang An, 2022. "Smart Grid Project Benefit Evaluation Based on a Hybrid Intelligent Model," Sustainability, MDPI, vol. 14(17), pages 1-20, September.

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