Modeling in support of multi-perspective valuation of smart grid initiatives

Abstract

Digitalization of the energy grid, leading to a so-called smart grid, offers notable benefits to the electricity system itself, and creates economic, social, and environmental value for different parties. Nevertheless, there is still a lack of understanding the value proposition underlying a technically feasible smart grid initiative. In this paper we identify requirements towards an approach for understanding the value proposition of a smart grid initiative, and propose a first step towards such an approach in the form of a landscape of modeling languages complemented by a process model for valuation. We evaluate the proposed approach, among others, by applying it to a blockchain-based initiative in the energy sector.