Development of a DG management system of smart grids
Lau, Chang Yu.
Date of Issue2013
School of Electrical and Electronic Engineering
This paper discusses the development of a Smart Grid management system. The created Smart Grid system will incorporate 2 feasible renewable energy sources, namely solar and wind energy. The 2 sources are regarded as Distributed Generation within the Smart Grid system. The management system aims to develop a pricing system for the Smart Grid owner to set to charge electricity consumers. Time of Use (ToU) pricing system will be introduced and Simple Levelized Cost Of Energy (SLCOE) will be used to calculate price to charge for solar and wind energy. The smart grid aims to replace the traditional electricity grid system in providing consumers with power and help cut electricity costs. From paying a standardized rate for electricity tariff, the management system will show how to vary the price of electricity. Ultimate pricing will further undergo a profits mechanism that will enable the Smart Grid owner to earn a percentage of profits while still charging consumers a rate which is lower than that generated by the traditional grid system. Intelligence to the system is discussed as the element to project tariff price for the next half hour is possible by studying experimental data. The testing is conducted with statistics obtained from research papers and calculated from relevant energy market institutes. The project will show the step by step development of the Smart Grid management system. Several Virtual Instruments (VI) are created to serve different functions for the entire main program. This paper will go through the motivations and construction of the Smart Grid system to meet the power demand of the NTU campus.
Final Year Project (FYP)
Nanyang Technological University