Reimagining the United States power grid to a smart electric grid could save consumers $50 billion a year
, led a team of engineers, economists and programmers who designed and executed the study.
The simulation showed that if a transactive energy system were deployed on the Electric Reliability Council of Texas grid, peak loads would be reduced by 9 to 15 percent. That savings could translate to economic benefits of up to $5 billion annually in Texas alone, or up to $50 billion annually if deployed across the entire continental United States. The savings would equal the annual output of 180 coal-fired power plants nationally.
By now, most people have experienced or witnessed how weather extremes or natural disasters can wreak havoc on our current power distribution systems. That vulnerability is magnified by our reliance on a few centralized power sources and a grid system that sometimes struggles to match supply with demand. Further, decarbonization of the electric grid will mean that more and more power will come from different kinds of renewable energy sources, like wind and solar.
“A smart grid can act as a shock absorber, balancing out mismatches between supply and demand,” Reeve said. “Through our study, we sought to understand just how valuable effective coordination of the electric grid could be to the nation, utilities and customers.
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