Asset life cycle management for Smart Grids: Challenges and implications

Electricity transmission and distribution companies implement advanced information and communication technologies to facilitate reliability and efficiency and to integrate renewable energy, electric vehicles and a range of devices to their networks. This Smart Grid initiative is driven by the need for more energy, increased usage of renewable energy, sustainability, competitive energy prices, security of supply and ageing infrastructure and workforce. However, Smart Grid introduces challenges for asset life cycle management. This study focuses on these challenges for the main transmission and distribution actors, and how asset life cycle management can meet them. The study utilises case study research strategy. The research data consists of a literature review, survey and expert interviews. The main challenges for asset life cycle management of Smart Grid include presenting the business case for and implementation of novel technology and information management-related issues.