Smart Grid Integration using Net Metering

Votes: 1
Views: 70

Legislation and climate driven committees are pushing for sustainable energy use. This means we must switch our reliance on non-renewable energy sources and convert renewable energy to be the primary source of energy. New opportunities exist for homeowners to become individual power producers of variable renewable energy, i.e. solar PV and wind energy. This is done through net metering of excess energy into the grid at a paid price via premiums/feed in tariffs and cash payments. This will reduce reliance on fossil fuels, improve distribution of clean energy and reduce greenhouse gas emissions thus improving sustainability.

The purpose of this project is to Implement net metering and feed in tariffs/premiums using smart meters and advanced Al-IoT technology to provide clean energy. This involves defining project raw materials and service costs of connecting several households within a region via one substation to the main grid. New business opportunities are created for customers to become individual power producers (IPP) through net metering. Distribution of clean energy is facilitated to clients thus reducing greenhouse emissions and improving sustainability.

In phase one customers with renewable energy sources such as PV panels and wind farms are offered an opportunity to connect excess renewable energy to the grid. In phase two the plan is to identify regions of suitable renewable energy investments and offer customers discounted setup services. Excess energy is channeled to support the main grid. No payments are offered to the customer in this case.

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  • ABOUT THE ENTRANT

  • Name:
    Prince Svipira
  • Type of entry:
    team
    Team members:
    Prince Svipira
    Giorgos Tsapparellas
  • Software used for this entry:
    Animation software
  • Patent status:
    none