The grid has been a major consumer of fossil fuels, emitter of greenhouse gases, and often lacks compatibility with distributed or renewable energy sources.
Power grids are now challenged with the need for radical changes promoted by the demand to reduce the emissions from electricity supply, to replace and upgrade aging resources and to reap efficiencies.
A Smart Grid incorporates the benefits of advanced communications and information technologies to deliver real-time information and enables the near-instantaneous balance of supply and demand on the electrical grid.
Advanced Power Electronics: Enabler for Energy Transition & Efficiency
Power electronics enable a very highly efficient conversion of electrical power and also provide optimal conditions for transmission and distribution. Because of their potential to enable digitalization and their highly efficient operations, it is estimated that the amount of electricity processed by power electronic components will double over the next decade, reaching up to 80% by 2030.
Applications of advanced power electronics can be broadly grouped under the four categories of:
Smart & Sustainable Buildings, Industrial Energy Efficiency, Transportation (Land, Air, Sea), and Smart Grids. Advanced power electronics is the technology behind the key implementer of low energy consumption ideas.