Smart Grid has the potential to produce over $2 trillion of benefits in the US utility sector over the next 20 years, according to a study by the Electric Power Research Institute. However, the study also projects significant costs of up to $476 billion to achieve these returns. Therefore, while smart grid represents an enormous opportunity, with a benefit-to-cost ratio of nearly 6 to 1, given the enormous financial sums at stake, it is crucial that the planning process for smart grid be done with extreme care. Planning the deployment of smart grid technology in the electric utility sector can be a complex and difficult process due to regulatory frameworks that have evolved to protect consumers, the need for development of standards regarding numerous emerging technologies, and the need for emerging business models which can fit with these evolving technology and regulatory frameworks. Technology roadmapping provides a number of useful tools which can help with the planning of smart grid development, but a highly integrated approach is needed to accommodate the full range of factors mentioned.
Technology Planning for Aligning Emerging Business Models and Regulatory Structures - The Case of Electric Vehicle Charging and the Smart Grid2018 Portland International Conference on Management of Engineering and Technology (PICMET)
Citation InformationK. Cowan and T. U. Daim, "Technology Planning for Aligning Emerging Business Models and Regulatory Structures — The Case of Electric Vehicle Charging and the Smart Grid," 2018 Portland International Conference on Management of Engineering and Technology (PICMET), Honolulu, HI, 2018, pp. 1-10.