International learning will fast-track smart grid development amongst utilities. By learning from others, a lot of testing can be “leap-frogged” and development can occur more rapidly.
A holistic approach to the smart grid will result in a better return of investment as components work better when integrated.
IT-OT integration and effective asset management are critical to this holistic approach. Utilities should carefully manage their costs since the consumer is a major investor. By being transparent with regards to project costs, the utility will gain the customer’s support. Proof of investment is essential to gaining a customer’s trust. Customer benefits should always be taken into account.
The largest projects are not always the most successful-it’s what you do with a project that matters most. Projects should be carried out in an effective, comprehensive and knowledgeable manner, despite the project’s size.
Planning is essential and utilities should have a five to 20 year vision of how they plan to achieve real value from the smart grid. While changes do occur, utilities must develop a robust roadmap which will go a long way towards a project’s success.
The success of smart grid is a global phenomenon and utilities should learn from each other. Knowledge transfer between utilities will help fast-track smart grid deployment and development.