Smart Grid for the Process Industries: Tutorial Overview and Panel Discussion

Widespread adoption of renewable power sources is expected to place substantial burden on electric power distribution systems (the grid). Smart grid operation is defined as a multifaceted approach to maintaining equality between generated and consumed power. One facet is to expand the dispatch capabilities of non-renewable sources. Another is to install new massive energy storage facilities that act as consumers when supply is high and generators when demand is high. A third is demand response, which has consumers track supply. This session will illustrate how the process industries can participate in the smart grid through demand response. Specifically, the source of economic incentives through real-time electricity prices will be highlighted as well as process related mechanisms to achieve the flexibility required for process industry participation. Examples of economic analysis of smart grid participation will be presented for the process industry as well as for other sectors of the smart grid community, including building HVAC and power generation. The session will be begin with a tutorial overview of the smart grid and conclude with a panel of industry and academic experts discussing future challenges and opportunities.