By 2023, utilities will have spent around US$107 billion on grid analytics tools such as synchrophasors and wider-area situational awareness systems in a bid to better detect system problems, according to new data from Navigant Research.
The increasing adoption of smart grid technology by energy companies and the voluminous amount of data they produce is prompting the growth of these niche areas of the market, suggests the report.
The new study analyzes eight technologies that are the primary components of wide area situational awareness solutions, including synchrophasers.
It states: "The analytics tools [of synchrophasers] can aggregate the data, make comparisons with other nodes on the network, and coordinate and synchronize the measurements to ensure the reliability and smooth functioning of the grid."
Substations come online
The study explains that as current and planned transmission networks and substations are being modernized and transmission substations are becoming digitally enabled "in order to detect many system problems, phase angles must be compared at each end of a transmission line simultaneously before high-speed disturbances can be seen.
"These measurements can only be obtained with a new generation of technologies that enable synchrophasor and wide area situational awareness solutions."
The next generation of solutions are part technologies, such as the phasor measurement units and phasor data concentrators (PDCs) needed to collect and aggregate massive amounts of data, and part new IT applications and systems that collect, manage, analyze, alert, and automate rapid response to network frequency and phase angle synchronization.
Visualizing a reliable grid
Communications systems and back-office analytics will also need to be replaced with next-generation systems that can support and provide the analytics and visualization tools necessary to better provide transmission network reliability and resiliency, Navigant said in a report summary.
As a result, the global annual transmission synchrophasor revenue is expected to grow from US$8.5 billion in 2014 to US$16.7 billion in 2023, according to Navigant Research.
(Pic credit: National Grid)