A review on Energy usage, Smart grid and Development
In the world, energy need is on the increase, the power produced ought to also increase in order to satisfy the needs of the users in their day to day activities. Nevertheless, because the number of consumers are increasing, and also because of the irregularity nature of the electric load, power demand may cause challenges to the electric utilities and system operators. High peak demands have a great probability to occur in many periods and may be a threat to the system functionality. To resolve this issue, the electric utility and system operators have two choices available: Increase the size and dimension of the network which is costly and requires time to implement. Utilize energy management in order to reduce the possibility of high peak demand during peak hours. Investment in electricity grids showed a strong increase of 6% in 2021, with advanced economies accelerating investment to support and enable the electrification of buildings, industry and transport and to accommodate variable renewables on the power system. Despite some recovery from the economic disruption caused by the Covid-19 pandemic, investment in smart grids need to more than double through to 2030 to get on track with the Net Zero Emissions by 2050 Scenario, especially in emerging market and developing economies. Investment in electricity grids needs to average around USD 600 billion annually through to 2030 to get on the Net Zero Scenario trajectory. This is almost double the current investment levels, at around USD 300 billion per year.Keywords: Energy usage, Smart grid and Development.
HOW TO CITE
Musa Yahaya (2023). A review on Energy usage, Smart grid and Development. IDOSR JOURNAL OF COMPUTER AND APPLIED SCIENCES 8(1) 36-43.