Volatile energy prices, painful strain on infrastructure, rapidly growing concern for the environ-ment, and lower power quality are creating the need for a transformed power system. There exists the technology to improve power production, distribution, and usage through the imple-mentation of an interoperable power grid.
Interoperability is the capability of systems or units to provide and receive services and information between each other, and to use the services and information exchanged to operate effectively together in predictable ways without significant user intervention. Anecdotal evidence suggests that standards for equipment and information systems integration will drive significant financial benefits for the energy and power sector. The goal of this white paper and the underlying research is to analyze the economic impacts and financial benefits that have grown from the adoption of interoperability in peer industries such as healthcare, emergency services, and building construction.
Financial Benefits of Interoperability: How Interoperability in the Electric Power Industry Will Benefit Stakeholders Financially is a work of the GridWise Architecture Council.