Grid 4.0: Cyber-Physical Systems Enable a Modern Grid : Session 1 by Steven Collier

For nearly a century the driving force for the U.S. electric grid was growth while the technologies and business model changed incrementally. The OPEC oil embargo in 1973 marked an inflection point after which its foundations began to erode. New electronics, information, communications, and energy technologies led to rapid growth of distributed energy resources (energy production, storage, monitoring, management). An increasingly decentralized and complex "Grid Edge" poses profound challenges for planning, operations, and management of the legacy electric grid. The fourth industrial revolution (cyber-physical systems operating via the Internet of Things) brings new ways of dealing with the challenges and maximizing the benefits of a new electric grid model. Session 1: Expansion - Demand - Facilities - Monopolies