TRANSMISSION & DISTRIBUTION TECHNOLOGY
the energy producers and consumers to create smarter services and business opportunities around the current infrastructure. Metropolises, countries and businesses are able to use their current infrastructure more efficiently; for example, cities can connect their shopping malls, office blocks and other buildings into VPP to acquire cost- savings, better services for citizens and decrease CO2
emissions. Tis will also
attract new tax-payers into the cities, thus generating more income. In conclusion, VPP offers numerous benefits that impact many fields – from individual consumers to businesses and cities. Risk management becomes easier, because everything in the electricity grid is connected into the cloud and can be monitored with low latency. Grid load management can be handled with lower costs and emissions. Individual consumers will have more reliable electricity input with fewer blackouts and outages, and it allows the consumers to become prosumers. Building heating and cooling, EV batteries and solar panels can be connected effortlessly into the regional grid. Businesses can gain income from the VPP markets with current and future solutions – for example, connecting existing facilities into VPP or by creating new business models around it. Cities start to move towards smart cities where higher grid stability and better service for citizens will become everyday life.
The Internet of Energy is an enabler of smart cities
are more responsible for changes, opened up for new participants, able to generate new income sources and offer stability for the consumers. Te Internet of Tings (IoT) is one of the key solutions that enables the use of VPP. By connecting different devices and energy sources into the same system cities, consumers and producers can monitor and control their energy usage from individual devices up to large scale facilities. When multiple devices are connected into the grid, for example via 5G connection or broadband, everyday devices such as building air-conditioners or EV batteries can be managed to be used as part of VPP. Tis creates huge business potential for cities, industries and other players that have not had possibility to participate into the markets before. Te global VPP markets were valued at
US$1.3 billion in 2019 and it is estimated that the markets will be US$5.9 billion in 2027 with annual growth CAGR of 21.3%.
LOOKING AHEAD Future possibilities for VPP usage are vast, from individual consumers to large cities, the plausible use cases are numerous and constantly growing. Internet of Energy (IoE) refers to the technical term for when different energy sources and electrical devices are implemented with IoT connectivity and connected into the same infrastructure. IoE allows
The L7 Drive web user interface
Pentti Bruun is CEO and Aleksanteri Nummi is research analyst at L7 Drive.
www.l7drive.eu
www.engineerlive.com 9
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