Behind the hype, there is the reality. The era of smart grids is set to deliver real improvements. A range of technological innovations are, together, expected to make possible a step change in grid efficiency, facilitate automation to reduce cost and improve quality, enable the integrated and optimal use of distributed and renewable generation, and promote interaction between supply and demand technologies and between the consumer and the utility that will provide benefits for both.
But this future comes at a cost and with immense challenges along the way. It requires substantial capital investment. It means transforming the grid from an electromechanical system to a fully digital system. Its full potential requires much to happen on many different fronts. Companies face tough dilemmas on the timing of investment, choice of technology partners, how to maximise the cost-benefit to their company as well as the wider grid and society and, last but not least, the key challenge of delivering the necessary upgrades efficiently and on time.
PwC can help bring effective rigour and challenge to the decisions that companies need to make at all stages of smart grid development and implementation. We have extensive experience of helping companies assess and roll-out smart grid programmes in all the major power markets around the world. Our goal is to help our clients deliver on their smart grid ambitions in a way that gives them maximum value and competitive advantage.