NEMA members are leading the way in Smart Grid technologies by encouraging investment in the national electricity grid and developing new product standards. NEMA was named in the Energy Independence and Security Act of 2007 as a participant in efforts to enhance the productivity, efficiency, and sustainability of the electricity grid. The basic concept of Smart Grid is to add monitoring, analysis, control and communication capabilities to the national electricity delivery system in order to maximize the throughput of the system while reducing energy consumption. Smart Grid will also allow homeowners and businesses to utilize electricity as efficiently and economically as possible.
Smart Grid technologies can improve the reliability, security, and efficiency of the electrical grid. Intelligent devices can automatically adjust to changing conditions to prevent blackouts and increase capacity. While currently available, a lack of standards and increased upfront cost hinder the deployment of smart grid technologies. Uniform standards will simplify new equipment selection and installation. Several financial mechanisms under consideration, such as DOE matching funds, rate recovery incentives and accelerated depreciation, will help manufacturers and utilities finance new investments.
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