Analyzing Smart Grid Systems Design Decisions with Dynamic Pricing, Innovation Diffusion, and Policy Control Mechanisms

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Investing in the smart grid development and implementation represents one of the fastest growing areas of sustainable business spending in Canada. From the systems perspective, retail-level smart grid technologies consist of advanced metering infrastructures and other information-based technologies which enable energy suppliers to monitor and, in some cases, control in real-time when and how consumers use and/or charge their appliances, equipment, and electric vehicles. The economic and environmental performances of the energy-efficiency systems driven by the smart grid technologies are also impacted by different types of real-time pricing schemes utilized by utilities, such as critical peak pricing and time-of-use rates; the innovation adoption and diffusion processes for different types of consumers; and policy mechanisms, such as feed-in tariff, implemented by governments. In the proposed research, we plan to conduct theoretical and empirical analyses and develop decision support systems to analyze the smart grid systems design decisions with a focus on three technologies and related smart energy-efficiency systems: automated meter reading, with one-way information flow from consumers to utilities; advanced metering infrastructure, with smart meters enabled with two-way information flows between consumers and utilities; and net metering, with two-way information and energy flows between the so-called "prosumers" and utilities. We will conduct theoretical and empirical analyses to evaluate and compare both the economic performance and life-cycle energy consumption of these smart energy-efficiency systems, taking into account factors such as the real-time pricing schemes, the innovation adoption and diffusion processes for green/non-green consumers and prosumers, and the regulations and policy mechanisms. We will also construct simulation-based decision support systems as practical tools to propose effective private strategies and public policies for smart grid implementation in the Canadian energy sector.