Microgrid financial software development direction

What drives microgrid development?

Resilience, efficiency, sustainability, flexibility, security, and reliability are key drivers for microgrid developments. These factors motivate the need for integrated models and tools for microgrid planning, design, and operations at higher and higher levels of complexity.

What is a microgrid strategy?

The Strategy development process began with microgrid experts deliberating on areas the Strategy should focus on for impactful results in key metrics, such as reliability, resilience, decarbonization, and affordability, in the next five to ten years.

How does government support microgrids?

Support for microgrids comes from research and development (R&D) programs at federal and state levels, software and tools, grants and funding support to incentivize demonstration projects, and tax and financial incentives for the installation of distributed energy , , , .

Can financial structure address microgrids' development challenge?

It is equivalent to the results for a revised allocation structure, where all the benefits of microgrid establishment are directed to the right entities; taking this fact into account, Δ in Fig. 9, represents the capacity of financial structure in addressing microgrids’ development challenge.

What makes a microgrid a good investment?

Power Electronics: Microgrids frequently use power electronics converters like DC/AC or DC/AC/DC to interact with the power system, such as solar PV or microturbines. Controls and functionality: Microgrids have unique regulatory needs and techniques that help them achieve local balance and maximize their financial gains.

Where does microgrid development take place?

While the federal programs described above were the main engine of early U.S. microgrid research and development, there has always been significant activity at the state and local levels—often arising from self-generation projects, typically at large commercial, campus, medical, or industrial sites.