Making the Electric Grid Smarter and Cleaner: Navigating the Journey to Substation Virtualization

Abstract

As the energy sector transitions to an increased penetration of clean and low-carbon renewable power sources, the patterns and levels of power flow on the electric grid will change significantly. In response, the energy sector must increase investments in substation virtualization to enable efficient supply and demand management, power flow optimization, and overall grid balancing. We worked with a multinational grid technologies and systems business to build an understanding of where the substation market is headed as the grid is modernized and developed an informed opinion on how to engage industry players in the utilization of new and emerging substation technologies. This master’s project serves as a market and risk analysis of new substation technologies and their broader implications for OEMs as they navigate their future digital offerings.