The two primary objectives of smart grid are economic development and
customer satisfaction. Economic development is the overarching goal. Smart grid investments will help drive the formation and growth of “green” supplier companies and enhance the competitiveness of key cities. Improved reliability will help retain important companies and American jobs in the state. In the short term, smart grid economic development will be accelerated through Federal Stimulus grants and Governor Paterson’s Jobs Plan.
Economic Development
The overarching benefit of the New York smart grid is economic development.
New Jobs: The manufacture, installation, operation and maintenance
of the smart grid and its components will create new jobs within the state.
Innovation: Research has been the hallmark and economic engine of
New York for over two centuries. Smart grid innovation will enable the growth
of business while rewarding customers with valuable new products.
Lower Costs: Costs rise over time and energy is no exception. But the smart grid should provide energy at a lower future cost than otherwise would be possible. As such, it will save customers money that can be invested or consumed as they choose.
Customer Satisfaction
Satisfying customer needs is the common theme of all other smart grid benefits. The ongoing Consortium process will result in higher levels of customer satisfaction, improved reliability, shorter outages, increased efficiency, customer energy/cost savings, the highest levels of security and a timely incorporation of renewable energy.
Higher Customer Satisfaction: The combination of lower costs, improved reliability and better customer control will raise satisfaction among all types of customers (residential, commercial, industrial, institutional).
Improved Reliability: The Advanced Transmission Operations (ATO) and Advanced Distribution Operations (ADO) inherent in the smart grid will reduce
and shorten outages and improve the quality of power.
Shorter Outages: The incorporation of advanced sensors and measurement (PMU), communication networks and smart systems will allow an unprecedented degree of system visibility and situational awareness of the electric power system. Smart grid will result in shorter outages through its “islanding” and “self-healing” features.
Increased Efficiency: The integrated advanced components of the
smart grid will improve efficiency and lower costs for customers.
Customer Energy/Cost Savings: As pricing becomes more transparent and is aligned with the underlying economics of generation and distribution, customers’ decisions to save money will benefit society as well.
Highest Security: Security will be incorporated into the design of the smart grid and will require the implementation of practices and procedures by individual stakeholders. In this way, the physical and cyber security risks can be managed
to the highest standards possible.
Timely renewables: Smart grid is the enabler of more renewable energy. Its development will allow for the timely incorporation of these sustainable sources of power in a user-friendly, cost-effective manner.
