CVR a key part of smart grid benefit opportunity

Investments into smart grid technologies help drive significant advantages for utility providers, with a variety of benefits making operations more efficient and cost effective. One of the associated improvements that can help firms better leverage these opportunities is conservation voltage reduction, as it continuously reduces energy consumption and demand during peak periods, helping to better manage supplies. According to FierceSmartGrid, this has madeCVR investments a higher priority throughout 2013.

"A high-precision voltage reduction strategy that can unleash unprecedented smart grid benefits, CVR is likely to be next on the smart grid deployment schedule," Kristoffer Torvik, senior research analyst with Navigant Research, told the news source. "North American utilities have yet to take full advantage of the benefits of CVR, which often lies latent in the smart meter functionality."

The use of noninvasive means to regulate peak time demand allows utilities to optimize the flow of power to all customers, improving network performance and reducing power costs by establishing a more reliable supply chain. However, much like any other smart grid deployment, providers need to consider more than just the CVR-related technologies. Terminal servers, routers, smart meters and other hardware builds the foundation of the grid, allowing for swift and reliable transmission of the data necessary to gauge usage and demand. This will help firms deploy more cost-effective solutions for their power grids while eliminating latency and other risk factors from their network.

According to the news source, Navigant Research's recent report on CVR found that investments reached $8.4 million in 2013 in the U.S., but are expected to explode by 2022, exceeding $226 million. These improvements will feed grid reliability and service quality, resulting in increased gains over time for the provider and significant ROI.

Smart grid investments are continuing to expand, and energy providers will need to be deploying the best possible hardware and supporting technology to continue expanding these capabilities down the road.

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