Development of a cost benefit analysis system for smart grids

• Main Author: Khaing Yadanar
• Other Authors: So Ping Lam
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Engineering
• Online Access: http://hdl.handle.net/10356/62045
• Institution: Nanyang Technological University

As the energy demand continues to increase globally year after year with the growth of economic and human development, there is a need to pay attention to the security, reliability and sustainability of the energy today. Therefore, affordable, clean and equitable energy become fundamental to this booming economy and human evolution. Nowadays, almost every country in the world is encouraging the development of clean energy infrastructure and smart grids technology.Thus, there is an acceleration and increased complexity of energy drivers as well as policy and investment signal in these areas over the past few years. To anticipate the rising trend, the implementation of Smart Grids technology becomes very important in transforming the country into sustainable and clean environment. Before actual implementation, it is crucial to understand the cost feasibility of the Smart Grid infrastructure. The Cost-Benefit analysis system of Smart Grids especially Electric Vehicle and Demand Response is developed for both users and potential users to predict the cost, benefit and payback year of the technology. In addition, the EV charging system is developed to showcase the connection between the Electric Vehicle and Demand Response program.