Legacy power grids embody certain inherent deficiencies that have made their services unreliable.
Smart Grid: Customers are the Ultimate Beneficiary
Legacy power grids embody certain inherent deficiencies that have made their services unreliable. Increasing demand at the consumer end is putting a strain on the existing grids, leading to frequent blackouts and brownouts. Customer dissatisfaction resulting from poor service quality has not been addressed properly. Smart grids are expected to provide a practical solution to the problem. The smart grid technologies will help reduce the power losses incurred by the utilities as well as improving its distribution efficiency. Smart grids will transform the consumers into major stakeholders in the functioning of the grid. The power customers will not only consume power but will contribute towards the generation of power for the grid. However, a lot needs to be done to allay the apprehensions in the minds of power customers regarding the security of power usage data. Power utilities in the US are already facing allegations of overcharging customers through smart meters. The utilities need to come up with a proper strategy to convince the customers of the long-term benefits of rolling out smart grids.
The smart grid will empower consumers by providing information on the power consumed by them. This will help the customers to understand their power usage patterns and take adequate measures to reduce expenditure on power.
This analysis was taken from a research paper published by GlobalData, to download the full Research Paper for free, click below:
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