Smart grid technologies use digital communication to monitor and manage energy flows, allowing for real-time adjustments and improved grid stability. As these technologies continue to develop in the coming years, they have the potential to transform the way energy is used and distributed.
Below, 15 members of Forbes Technology Council share their predictions on ways smart grid technologies could transform the energy landscape in the next five to 10 years. From more sustainable energy production to cybersecurity enhancements (and challenges), here are just some of the changes they believe we’ll see in the not-too-distant future.
1. More Virtual Power Plants
More and more, virtual power plants will be called upon to keep the lights on due to extreme weather, the exponential growth of distributed energy resources, and evolving consumption and demand patterns. VPPs leverage smart grid technology to balance the grid while reducing the need to deploy polluting peaker plants. – Michael Smith, CPower
2. Strengthened Cybersecurity And Resilience
Smart grid technologies will play a crucial role in enhancing cybersecurity and resilience against physical and virtual threats. Advanced sensors, monitoring systems and data analytics capabilities will allow utilities to detect and respond to potential security breaches or equipment failures promptly, minimizing the risk of power outages and reducing the recovery time in case of disruptions. – Naresh Kumar Miryala, Meta
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3. Community-Based Infrastructure Growth
The use of home-installed solar panels and other renewable resources will enable individuals to supply excess power back to the grid, reducing reliance on central providers. This shift toward a community-based, sustainable infrastructure will democratize energy distribution, while blockchain integration can ensure transparency, service continuity and enhanced resilience against disruptions. – Viktor Trón, Swarm
4. Better-Balanced Generation And Storage
Improvements to smart grid technologies will involve battery technology as well. We live in an environment where crowdsourcing energy is a reality. Next, we need to figure out how to store the energy of the sun and wind and pass that along to others at night or when necessary. There will be a homologous relationship between generation and storage, which will help decentralize energy production. – WaiJe Coler, InfoTracer
5. Improved Fault Detection And Restoration
New technologies will improve fault detection and restoration, allowing for rapid identification and isolation of issues to minimize power interruptions. Additionally, smart grids will facilitate the integration of renewable energy sources by efficiently managing variable inputs, ensuring a stable power supply. – Roman Reznikov, Intellias
6. Integration Of Renewable Energy
Smart grid technologies will transform the energy landscape by enabling efficient and reliable energy distribution. They allow for real-time monitoring and management of energy usage, optimizing consumption and reducing waste. Smart grids also facilitate integrating renewable energy sources, enhancing grid resilience and supporting the transition to more sustainable and resilient energy systems. – Adrien Nejkovic, Hearst Capital
7. Real-Time Pricing, Generation, Storage And Maintenance Management
When combined with well-implemented artificial intelligence, smart grid technologies have the opportunity to materially change the energy landscape with macro shifts in solar, batteries and renewables. Real-time pricing response, scaling up and down of generation, reallocation to storage (to address the solar duck curve), and predictive asset maintenance are all areas that hopefully will be transformed with strategic investment and focus. – Gladwin Mendez, Simplyai
8. Unified Utilities
In the next five to 10 years, smart grid technologies will revolutionize the energy sector by seamlessly integrating diverse utilities such as electricity, water and gas into a unified system. Leveraging AI, these grids will advance from proactive to predictive management, optimizing energy usage and balancing supply and demand dynamically. It will boost efficiency and drive global energy conservation. – Jabin Geevarghese George, Tata Consultancy Services
9. Better Demand Forecasting And Response
Smart grid technologies can help energy companies meet the challenges of increasing power demands while moving toward grid decarbonization. AI-driven tools can aid in demand forecasting, preventative maintenance of equipment, and the detection of and response to dynamic conditions that impact the energy supply and grid resilience. – Merav Yuravlivker, Data Society
10. Lower Costs And Improved Reliability
Smart grids will enable more efficient and resilient energy distribution. By integrating real-time data analytics and automated demand response, smart grids can optimize energy use, reduce outages and seamlessly incorporate renewable energy sources. This will lead to more sustainable energy systems, lower costs and improved reliability for consumers and providers alike. – Miguel Llorca, Torrent Group
11. Integration With Cybersecurity Technology
Smart grid technologies can capitalize on the use of cybersecurity as a cornerstone of energy management, ensuring robust defense mechanisms are integral. By embedding advanced security protocols and real-time threat detection, grids will not only be able to manage energy more efficiently, but will also protect against increasingly sophisticated cyberthreats. These system integrations can improve security. – Dan Sorensen, Air National Guard
12. Preemptive Fault Identification And Correction
Smart grid technologies will enhance energy efficiency by enabling predictive maintenance. Using IoT sensors and AI, they’ll identify and fix faults preemptively, improving reliability and reducing outages, thereby extending infrastructure lifespan and cutting costs. – Andres Zunino, ZirconTech
13. Cyber Warfare Focused On Smart Grids
Smart grid technology will become another front in cyber warfare. Many of today’s implementations focus on cutting out human employees, increasing efficiency and cutting costs. Cybersecurity is often only an afterthought. Thus, technology will become the next battlefield. After all, why send a missile if you can take out the grid at the push of a button? – Kevin Korte, Univention
14. Increased Use Of Microgrids
Climate change and location-specific natural disasters will increase the need for microgrids—smaller, resilient energy sources that function independently of the national grid. Microgrids facilitate efficient and adaptable energy that doesn’t rely on coordination with the broader energy system. Microgrids using alternative energy will help achieve net-zero goals and reduce reliance on fossil fuels. – Simon Bennett, AVEVA
15. Decentralized Energy Production
I believe we are witnessing the start of the decentralization of energy production. Smart grid technologies will empower consumers to become active participants in the energy market, enabling them to produce, store and sell energy. I think this is a good thing for us as a planet and will increase the adoption of renewable sources, creating a more resilient and efficient energy system. – Jo Webber, Pod
