1. Data collection and transparency are crucial for mapping renewable generating capacity across power grids needed for international electricity markets.
2. Interconnected green grids are essential for balancing supply and demand, flattening fluctuations, and ensuring market stability.
3. Smart grid technologies can unlock hidden network capacity, prevent power loss and theft, and lead to smarter, integrated global electricity markets.
Data collection and transparency are essential to understanding the true state of renewable generating capacity across power grids for international electricity markets. The transition to a global interconnected green grid system will help balance supply and demand, creating more stable markets. However, achieving this will require greater trust and transparency in clean power capacity and technological advancements in smart grid monitoring.
Older power grids designed for stable, centralised energy sources are struggling to adapt to the rise of intermittent distributed energy sources. The uncertainty surrounding clean power capacity is impeding progress towards a stable global clean energy market. Grid monitoring systems are unable to measure fluctuations in renewable generation, hindering the ability to estimate available generating capacity across all locations.
Innovations in Artificial Intelligence, smart data, and the Internet of Things are helping map the true state of renewable generating capacity. Advanced analytics and third-generation sensors can aggregate electrical parameters to detect changes in renewable generation in real-time. This transparency could build confidence in international electricity markets and enable more efficient grid upgrades.
Smart grid technologies can not only monitor generating capacity but also increase grid capacity by utilizing multi-sensing grid-monitoring systems. Preventing power loss and theft through intelligent grid monitoring systems can create greater certainty over power quality and quantity, contributing to the development of smart, integrated electricity markets. Sustainable energy trading will require a shift towards smarter grids that monitor and manage renewable production and grid capacity in real time.