Towards realizing the GridWise™ vision: Integrating the operations and behavior of dispersed energy devices, consumers, and markets

Abstract

GridWise is a vision and a concept developed by the Department of Energy, Pacific Northwest National Labs, and industry participants based on the belief that substantial value can be unlocked throughout the electric power system value chain with the deep penetration of information, communication, and intelligent control technologies. Recent studies estimate that the net present value of system level benefits that can potentially be created through various intelligent system optimization strategies range from $30 billion to over $120 billion. However, we are far from fully understanding the technologies, business models, and regulatory environments needed to begin capturing meaningful portions of these potential benefits. This paper presents an approach that addresses one of the major technology hurdles - developing an affordable and highly scaleable platform that enables energy service providers to model and implement business processes that integrates dispersed physical assets, energy consumers, and energy markets to create and capture new value. © 2004 IEEE.