With impetus on going green, energy mix is changing rapidly. Today, the energy mix is getting a lot more volatile given the very nature of such energy sources like Wind and Solar as they are exposed to prevailing weather condition. Unlike traditional sources such as thermal generation systems which typically have spinning reserve; all such integrated and/or synchronized energy sources contribute to the overall grid inertia. With depleting grid inertia, any imbalance in power position either due to demand side or the supply side creates havoc to the grid frequency. It may be noted that the demand of energy has always been volatile as they are exposed to exogenous factors such as weather changes. With supply of energy also getting volatile, maintaining the grid health is becoming more and more challenging and costlier day by day.
The situation may become much more challenging as in today's world where consumers are themselves become energy generators, it becomes much more difficult to monitor and manage such a vast network having enormous number of generation units. While smart meters and/or smart grids are enabled to capture such data in real time and gives two-way control on the grid, there is a growing need for real time intelligence to be drawn from such data for more proactive and efficient decision making by the energy utilities across the value chain i.e. generation, distribution and transmission.