Decision Making for Energy Management in Smart Grid

Background

Over the last years technical, economic and market transformation of the electric power sector connected with development concept of renewable energy Smart Grid have accelerated around the world. It is caused by growing energy demand in developing and emerging economies and trends in energy saving. Many countries have begun to respond to the challenge of power grid change. Consequently, new markets for both centralized and distributed renewable energy are emerging in all regions. Usage of renewable energy sources aims to meet a higher share of energy demand and provide reducing pollution and fuel poverty. According to Renewables Global Status Reports of REN21, renewable energy has growing in capacity and production for last several years. The estimated renewable energy share of global electricity production for recent fifteen years year is shown in fig.1 (Energy Efficiency Market Reports, 2002-2017).

Renewable energies, such as wind and solar energy, have technical properties that make them better than more traditional forms of power generation (Renewable Energy and Electricity, 2017). First, their maximum output fluctuates according to the real-time availability of wind and sunlight and such fluctuations can be predicted in advance. Second, they are modular and can be deployed in different types of grid. Third, wind and sunlight are available almost everywhere, so do not requires transportation to place of energy generation.

Figure 1.

Estimated renewable energy share of global electricity production, in 2002-2017