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- Title
Creating a Smarter U.S. Electricity Grid.
- Authors
Joskow, Paul L
- Abstract
This paper focuses on efforts to build what policymakers call the 'smart grid,' involving 1) improved remote monitoring and automatic and remote control of facilities in high-voltage electricity transmission networks; 2) improved remote monitoring, two-way communications, and automatic and remote control of local distribution networks; and 3) installation of 'smart' metering and associated communications capabilities on customer premises so that customers can receive real-time price information and/or take advantage of opportunities to contract with their retail supplier to manage the consumer's electricity demands remotely in response to wholesale prices and network congestion. I examine the opportunities, challenges, and uncertainties associated with investments in 'smart grid' technologies. I discuss some basic electricity supply and demand, pricing, and physical network attributes that are critical for understanding the opportunities and challenges associated with expanding deployment of smart grid technologies. Then I cover issues associated with the deployment of these technologies at the high voltage transmission, local distribution, and end-use metering levels.
- Subjects
ELECTRIC power distribution management; SMART power grids; ELECTRIC power system planning; ELECTRIC power distribution automation; ELECTRIC power consumption; ENERGY demand management; ELECTRIC rates; ELECTRIC power consumption management; ELECTRIC power systems -- Communication systems; ELECTRIC power transmission; ELECTRIC meters
- Publication
Journal of Economic Perspectives, 2012, Vol 26, Issue 1, p29
- ISSN
0895-3309
- Publication type
Article
- DOI
10.1257/jep.26.1.29