The Big Question: Will smart grids really help save money and
emissions? Why are we asking this now? The electrical grid is
the system that brings the power generated in a power station to
our homes through transformers, switches, transmission lines and
cables. The present electrical grid is designed as a one-way
street, to deliver power from the production point to the
consumption point. This grid is being replaced by a new “smart
grid” that will apply advanced data processing, communications
and remote control technologies for two way communication with
the power user to deliver a better service. The US expects to
spend $17 – 24 billion a year for the next 20 years to build the
smart grid while the European project will cost around $170
billion. Smart grid technology has the ability to connect
multiple small capacity power generating plants, such as solar
and wind into the grid. This permits using renewable power when
available, in place of fossil based power. An EPRI ( Electrical
Power Research Institute)