Power Market Liberalization will Facilitate the Penetration of Smart Grid Systems

Power Market Liberalization will Facilitate the Penetration of Smart Grid Systems

Summary

GlobalData's report “Power Market Liberalization will Facilitate the Penetration of Smart Grid Systems” provides an analysis of the effects of power market liberalization on development of smart grid. Power market liberalization will facilitate the deployment of smart grid technologies by introducing privatization and leading to the growth of competition in the electricity sector. This level of competition prompts retailers to offer new technologies such as smart meters and in-home displays, which play a key role in helping consumers better manage their electricity consumption. Retailers also start offering flexible tariff programs incentivizing consumers’ energy saving and enabling demand response. Power market liberalization will also enable consumers to participate in demand response by utilizing the Distributed Energy Resources (DERs) installed at their premises. Privatization allows these DERs to sell their electricity to retailers or traders utilizing smart grid technologies like VPP and micro grid. Some of the countries that have already deregulated their electricity market include India and the US. However, a lot more is needed from governments of different countries to liberalize their electricity markets in order to facilitate the utilization of smart grid technologies.

Scope

• Role of power market liberalization in developing smart grid
• Improvement in energy trading through power market liberalization
• Impetus to private power generation in smart grid through power market liberaqlization
• Role of power market liberalization in supporting demand response

Reasons to buy

• Identify the role played by power market liberalization in developing smart grid market
• Gain insight on the global smart grid industry’s development trends
• Developing strategies for market penetration
• Facilitate decision-making based on insights on global smart grid market