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It seems like you can''t go a week without encounteringanother article on the rise of the Internet of Things (IoT). IoT, the interconnection of physical devices, vehicles, buildings, and other items that have the capacity to send and receive data, offers the promise of new, advanced services stemming from new connections between the virtual and physical world based on improved communication and control technologies. This two-way communication has been a key component of DOE''s grid modernization efforts, from previous Smart Grid work to today''s Grid Modernization Initiative (GMI).
IoT offers new opportunities for consumers to engage with the power sector even as it offers better opportunities for improved efficiency and performance across the power grid. Through the IoT, advanced sensors can gather new data from grid assets to give grid operators better insight into infrastructure performance; controls can work across the transmission and distribution systems that are responsive to changing grid conditions, based on shifting generation mixes, physical conditions, or security threats; and consumers can engage and make better choices on their unique energy needs.
Within GMLC, there are multiple projects working to realize the opportunities from IoT. For example:
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The IVL provides a guide to identify business value and capture that value through action.9 It maps the flow of information through five stages: create, communicate, aggregate, analyze, and act. It is important to realize that information must complete the loop before any value inherent in that information can be captured through informed action. Even though one or more of the IVL stages may be minimized, each stage must be traversed before value can be extracted. This point is important and deserves exploration to illustrate the interaction of IVL stages, technologies, and value drivers.
The following sections outline the three phases of grid modernization, highlight specific examples of IoT technologies that could be leveraged within each one, and follow the paths of relevant information around the IVL to create value.
Collectively, these value drivers generate a number of benefits beyond preserving grid resiliency, including reduced interconnection costs. Smart-inverter standards can also turn DERs into local voltage support resources for grid operators to leverage. These standards may enable aggregators to create opportunities for owners of DERs of all sizes to participate in the electric wholesale market and maximize the value of their individual investments while protecting grid stability. At the same time, utilities could productize interconnection and DERs to pursue revenue opportunities by leveraging a potential competitive advantage.
Distribution system operators need control points that eliminate the need for human interaction and can handle the increasing number of IoT-enabled devices and applications within the grid. These control points must manage customer- and third-party-owned assets as well as utility assets. The rapid rise of grid complexity and the accompanying operational systems is quickly outpacing the grid operator''s ability to quickly and effectively assess a situation, create a plan of action, and execute that plan. The various operations systems that must be consulted to operate the grid are often independent, stand-alone systems with little or no ability to programmatically exchange data. This creates a bottleneck in the IVL at the aggregate stage (figure 4).
Relieving the bottleneck in aggregating data from these diverse sources allows analysis and augmented behavior based on a more holistic situational awareness. This heightened situational awareness is necessary to optimize distributed resources and the embedded IoT technologies to increase overall grid efficiency.
Advanced Distribution Management Systems (ADMS) are an IoT technology that solution providers are developing to achieve this level of situational awareness. An ADMS is an integrated software application that takes advantage of new and existing applications to create a unified monitoring and control system. This control system is required to maintain reliability, leverage all manner of embedded systems and distributed resources, and safeguard property and people from the variability inherent in a modern grid. ADMS is important to achieving the intelligent grid, evident through the potential that exists across all three value loop drivers.
IoT-enabled tools are needed to provide utilities with the decision criteria to determine when, where, and what investments in the grid are profitable versus when to encourage others to make investments, leading to an overall "ecosystem" of players in and around the grid. Locational system-performance evaluation drives profitability decisions down to the circuit level. This approach makes sense for the utility because it aligns costs, benefits, and risks better than a system-level approach to investment planning.
Innovation is part of the electric utility heritage. Tapping into this tradition is essential to meet today''s challenges and create a more intelligent grid. The IoT offers exponential technologies that utilities can deploy and leverage to find new ways to explore and extract incremental value from the intelligent grid. However, the path forward is not always clear. The Information Value Loop provides a structured framework to help understand how to create and capture value from information in order to more clearly define the road ahead. Applying the value loop to electric utilities, we see three key phases in the further adoption of and value realization from IoT technology:
Every electric utility must evaluate its own path to value realization through IoT technology based upon its starting point and a thorough evaluation of "what''s next?" It is important that management does not focus entirely on technology—rather, technology needs to be considered and planned for within the context of a utility''s capability model. The utility''s barriers to the adoption of these new IoT tools can be high, but the risk and cost of not pursuing them is greater.
The authors would like to thank Suzanna Sanborn, senior manager, and Joseph Mariani, lead analyst, Market Insights, Deloitte Services LP; Michael Raynor, director, Deloitte Consulting LLP; and Andrew Slaughter, executive director of Deloitte''s Center for Energy Solutions, Deloitte Services LP, for their review, feedback, and support throughout the research and drafting process.
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