Power electronics and Energy is an important component and necessity of different industries and business sectors. It exists in various forms i.e mechanical, chemical, thermal. It also plays an important role in overcoming economic, social economic and technological crisis in various sectors.
The renewable energy sector of the smart grid is creating new ways for energy storage. There are also some major changes in creating alternative fuels for electrical generation as a replacement for fossil fuels.
Many countries are making major advancements in the renewable energy sector of the smart grid. They are finding means to develop applications to store extra energy and to build power plans in less developed areas. The smart grid technology is facing challenges in controlling grid operations, energy usage and managing electric loads.
The smart grid has played an important role in the implementation and development of information technology in various sectors. Rapid growth in smart grid technology, power electronics, and energy storage technologies has faced tremendous transformation.
“Smart Grid has played an effective role in creating a balance between Consumption level and Electricity generation and creating necessary tools to store energy”
An offset of new tools will help in balancing consumption and energy generation level.
In this article, we are discussing issues emerging in power electronics and energy storage technologies.
Issues Emerging in power electronics and Energy Storage Technologies
The smart grid of Power Electronics and Energy Storage technology faces issues in both Economic and Technical aspects. Some of the issues are as under:
- A development in energy storage technology needs a breakthrough and new innovations in increasing its lifespan, capacity, security of energy storage device and a factor of minimum cost.
- Physical storage with high efficiency under minimum cost to eliminate the fear of overcasting.
- An innovation and research in energy storage technology should be focused on operational optimization and storage simulation for multiple applications. It can promote commercialization and industrialization of energy storage.
- It is also important to establish a completely professional atmosphere and generic classification of storage details and openness.
- A transparent view and implementation of new storage development standards will play an important role in promoting energy storage and industries related to it.
- The energy storage technology is facing issues due to support in investment and due to lack of sound policies have taken the tool in decline of storage industries.
- There is also a need for long-term energy plannings.
- With an expansion in power system and development in renewable energy, each country working in renewable energy and power development as taken next 10-20 years in the development and implementation of energy storage and energy of the smart grid.
- According to a recent research, energy storage gets feedback regarding frequency regulation service.
- Many developed countries are willing to hire this service.
- The electric power research institute has outlined fourteen categories for energy storage and power technology of smart grid. Energy Storage technology has created a huge impact in expanding renewable energy grid integration, shifting load, postponing grid constructions and improvement in power security system.
- According to a recent survey, energy storage will increase 26% a year in near future along with a market value 16billion a year.
- Weak business model, subsidy policy, and indeterminate price mechanism are some of the major challenges.
- The support of the sound electric vehicle plays an important role in the development of energy storage technology and in energy internet architecture.
- Power and energy resource storage industry is still facing issues due to lack of effective policy, unclear technical specifications, high cost and unhealthy mechanisms.
Social Economic Challenges
Lack of awareness and domain knowledge among investors in the technological sector. Technology will become obsolete and irrelevant if it fails in attracting investors.
- High capital investment, which is beneficial from an economic perspective. Effective awareness programs in organizations and individual business bodies are important in promoting power and storage technology of smart grid.
- Lack of accurate information and the fear of high budget leads towards creating a negative image in the eyes of investors, who can withdraw from ongoing smart grid projects due to the negative perception.
- The renewable energy sector should focus on an awareness program among the general public to give a clear picture about the benefits of power and energy storage technology. The government policy should be clear about the present and future scenario and they should be fully aware of the feedback generated from public views.
The ever-expanding nature of smart grid technology has also created security challenges for its service providers and users. Power electronics and energy storage technologies of smart grid extend itself from power generation to each and every device in consumers daily use and approach has increased the opportunity for power distribution system and its remote operation.
Implementing smart grid technology without ensuring effective security measure can leave an unauthorized access and cyber attacks i.e security theft, undetected. Because, it can also affect the stability of power and energy resource storage.
Because of the awareness programs introduced in some countries consumers are well aware of the electricity consumption rate due to employing smart grid technology. With the introduction of new technology, tariff rates have increased which discourages consumers from using and employing power and storage technologies.
However, health groups, NGOs, and consumers all these sects have objected about the usage of power and storage technologies due to their frequencies and its adverse effects on health. However, there is no such record or claim made public recently.
A scarcity of human resource in power electronics and energy storage sector of the smart grid. Workshops and training sessions should be conducted to ensure success in the sector of the smart grid. Government, manufacturers, business sector, information and communication industries and system operators are an important part of smart grid universe. Proper coordination among these sectors is required to overcome issues faced by one of them. Moreover, a close-knit cooperation must be developed to overcome technological issues.