Multiobjective Feasibility Analysis of Emerging Smart Grid Technologies and Concepts

Abstract

The power electronics and many other systems applied to power networks have undergone significant transformation and maturation in the last three decades. Although further advancements are possible and expected, currently the convergence towards feasible paradigms is of great importance for researchers. Hence, besides the overview of the novelties and trends in the development of smart grid-related systems, this paper presents the feasibility and effectiveness analysis of the emerging smart grid systems. Most notably, systems enabling novel approaches to how energy is produced and consumed, but also stored and traded with were addressed. The mentioned analysis is loosely based on what is usually defined as PESTEL analysis - several technical and nontechnical aspects of importance for the development and implementation of the mentioned emerging technologies and concepts were regarded. The investigation was conducted from the perspective of both developed and developing countries.