An analysis of business potential for smart residence technology system in ASEAN economic community: An academic perspective / Achara Jivacate ... [et al.].

• Main Authors: Achara, Jivacate, Wattanapong, Rakwichian, Prapita, Thanarak, Watchara, Wongpanyo, Boonyawat, Vichanpol, Chatkaew, Chailuecha
• Format: Article
• Language: English
• Published: 2016
• Subjects: Building control systems
• Online Access: https://ir.uitm.edu.my/id/eprint/49773/1/49773.pdf; https://ir.uitm.edu.my/id/eprint/49773/; https://scilett-fsg.uitm.edu.my/
• Institution: Universiti Teknologi Mara

Either in case of CO2 emission reduction aspect or in cases where energy security increase are used for energy management technologies. Smart grid technology serves the main purpose of exactly efficient and sustainable energy management. Smart grid technology including smart meter, smart residence, renewable energy, electrical vehicle, information and communication technology system enables to collectively control small-scale distributed generation of smart grid system. This article deals with the foundations of analysis and synthesis on related information and researches including academic perspectives on ASEAN Economic Community. The preliminary hypotheses demonstrate that although smart grid technology is seen as some significant weaknesses and threats, the advantage of smart residence system business is considered as interesting perspective under global climate change issue. Furthermore, for those people who have purchasing power and demand for this type of residence, this perspective serves for electricity bill payment, environmental concerns, life quality, positive image and national energy security. In similar way, ASEAN Energy Market has potentiality and strength with policy motto "One Vision, One Identity, One Community". The ASEAN region integration is attracted to the investors due to 600 million populations (10% of world population), trillion USD 2.57 GDP and USD 10,700 GDP/capital (PPP / purchasing power parity) in 2014. Additionally, ASEAN has the availability of diverse natural and energy resources, strength in banking system and investment funds as well as policy in the promotion of smart grid technology and capacity building. Therefore, the private sector is certainly the leader who conducts smart residence technology business investment in the future.