Last week, the Smart Grid Research Consortium, an independent research Consortium open to electric cooperatives, municipal and other public utilities, released a scorecard for utilities to evaluate their smart grid investment and planning process.
The objective of the scorecard is to assist utilities in evaluating their current smart grid investment analysis and planning process, according to the Consortium. The ideal investment/planning framework, reflected by a score of 100, is capable of identifying specific technologies and programs that best meet utility financial requirements while considering unique infrastructure and customer characteristics, says the Consortium.
For utilities who have not yet started the smart grid investment process, the scorecard provides guidance on issues to consider when developing in-house investment analysis/planning capabilities or when engaging consultants.
According to the Consortium, it has developed and implemented the Smart Grid Investment Model at fifteen utilities since 2010 to apply the evaluations process.
"This is the first benchmarking system to assist utilities in evaluating their approaches to this complex investment problem,” says Jerry Jackson, leader and research director of the Smart Grid Research Consortium.
Smart Grid IQ scores are compiled in six categories including: AMI/DA Investment/Planning Scope, Customer Engagement Investment/Planning Scope, Other Financial Items, Utility Customer Detail, Investment Analysis Quantitative Framework, and Ease of Use/User Interface/ Results Presentation.