Need for Grid Modernization and Reliability Will Significantly Drive the Synchrophasors Market in the US Until 2019, Says Technavio

LONDON--()--Technavio’s latest Synchrophasors Market in the US report highlights three key emerging trends predicted to impact market growth through 2019. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.

“Power grids initially used some basic technologies, but over the years an increase in power load has caused concerns. Coupled with an aging infrastructure, it has made the grid more prone to sudden outages that cause blackouts. This has led to a massive revamp and modernization of power grids. Modernization empowers customers through the deployment of smart meters and appliances that help consumers know their power usage to help save energy,” said Amit Sharma, one of Technavio’s lead industry analysts for smart grid research.

“Modernization of the grid involves installation of devices such as synchrophasors and energy management devices to help utilities optimize grid operations through situational awareness and identification of faults to avoid outages, thus increasing reliability of the grid,” added Amit.

Technavio’s market research study identifies the following three emerging trends expected to propel the growth of the synchrophasors market in the US:

  • Increased adoption of smart grid technologies
  • Increase in renewable power generation sources
  • New application areas

Increased adoption of smart grid technologies

Advanced devices and monitoring sensors provide utilities unparalleled insights into the grid. The US government’s commitments and support through the Recovery Act and the DOE's continuous work with utilities has helped increase the adoption of newer technologies to make the grid smarter. Standardization of hardware and software in grid control systems makes communication between devices easier, and it also helps operators control, monitor, and perform diagnostics from a remote location.

Advanced IT implementation in power grids makes high level integration between devices possible, and provides operators with specific and relevant information. Data availability from archived sources, continuous monitoring, and time-synchronized data from other utilities provides utility operators with consistent and complete information for analysis and better situational awareness. The knowledge gained from the data analysis allows more processes to be automated, which in turn reduces the risk of a system failure as most faults are detected in advance and corrective measures taken instantly to prevent outages.

Increase in renewable power generation sources

The need for clean energy and consistent support from the US government has resulted in tremendous growth in the renewable power sector. However, unlike conventional power plants, power generation from solar and wind power plants is uncertain and variable. It is therefore more difficult to predict how much power will be generated and supplied by a renewable plant into the grid on a daily or hourly basis. This makes it difficult for utilities in their day-to-day planning to meet power demands.

Installation of synchrophasors can help operators detect any variation or sudden fluctuation in renewable power generation that increases stress on the grid. The variable nature of power generation can change the behavior of the grid and have an impact on grid stability. As synchrophasors are capable of WAMV, it can perform diagnostics several times per second. It can thus provide valuable intelligence to operators for timely corrective measures to harness power generation from renewable or other power plants and maintain stability.

New application areas

As a consequence of increased use of synchrophasor technology, more applications are being explored through the implementation of pilot projects. If pilot projects are successful, the prototype application can be rolled out for widespread adoption. Examples of some successful pilot projects that have been rolled out so far includes phase balancing with the use of three-phase measurements and timely detection of faults in power distribution systems.

However, there is a need for more demonstrations to help distribution systems evaluate the associated benefits and to enable some standardization of design and deployment processes. To address these concerns, vendors are likely to introduce new software that captures and visualize complex data from synchrophasors. Development of new applications will be beneficial for grid systems worldwide and they can be used to leverage information to make grid systems more reliable in the long term as it is anticipated to speed up power outage restoration.

Browse related reports:

Purchase any three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
http://www.technavio.com/
media@technavio.com

Release Summary

Technavio’s latest Synchrophasors Market in the US report highlights three key emerging trends predicted to impact market growth through 2019.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
http://www.technavio.com/
media@technavio.com