ABSTRACT
Smart grid depends on the specific drivers and benefits to each utility, country, and federal goal, and the various industry stakeholders. The fundamental issue is organization and prioritization to focus on those first aspects that provide the greatest customer benefit toward the goal of achieving an interoperable and secure smart grid. The smart grid would not be complete without an equal focus on the digital transformation of utilities—data, processes, and business models. Digital technologies can provide unparalleled opportunities for value creation and sweeping transformations across multiple aspects of an industry. While, digital technology will transform most industries, there are several challenges specific to the utility industry, such as the pace of changing customer expectations, cultural transformation, outdated regulation, and identifying and accessing the right skills—to name just a few. With a dynamic distribution grid and new markets for transactive energy, utilities will become empowered to serve as energy clearing houses and address consumer demand with optimal sources of supply.
