Just a fraction of a second ago, the electricity that’s powering your device, allowing you to read this very article, was produced and propelled through a complex path from power plants, through transmission lines and substations, and finally to you. As intricate as it is, our transmission-and-distribution system is over a hundred years old, when only a fraction of buildings consumed electricity. Over the past century that power grids have existed, grid managers have had control over the supply of power, but not the demand for it.
The growth in electricity consumption and the switch to renewables is shaping a seismic multi-decade upheaval in global power systems. As a result, the electrical grid is becoming increasingly stressed, causing wholesale prices to rise and power disruptions to occur.
There is a growing demand for more flexible energy…