Smart grid consists of automation and control as well as new-age technologies. These technologies will provide digital capabilities to the electrical grid to respond to rapidly changing electric demand. Exponential advances in technology and advancement in hardware components have significantly reduced barriers for developing technology for grid security. The smart grid security solutions are integrated with high-tech systems including cloud computing and IoT. Smart grid security market will witness substantial growth owing to the growing security needs of the Internet of Things (IoT) as well as digitization in the energy sector. Increased deployment of web and cloud-based business applications will also positively influence the smart grid security market across the globe. Continuous development and integration of innovative novel and networking technologies are improving the security measures however, due to complex network there is an increase in the risk factors including security, data confidentiality, and vulnerabilities.
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Smart grid security is predominately being used for safeguarding power supply stations and is expected to have a significant contribution in the coming years. Advances in technology and increasing safety concerns is strengthening the demand for smart grid security across the globe. The continuous demand for efficient power supply from the utility sector to enhance economic and environmental health, the vendors are providing smart grid solutions.
Few of the key happenings are detailed below:
- Smart electricity meters are useful in efficiently tracking energy use by allocating energy production, however, they are vulnerable due to cyber-attacks. There has been development in improving the security of these devices thereby boosting security in the smart grid.
- In July 2019, Portland General Electric Co. has launched its Smart Grid Test project that will integrate smart grid technology and accelerate a clean energy future.
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Conclusively, with the growing adoption of technologies, the smart grid security solutions will become more adaptive supported by advancing hardware and software components. Considering significant demand, inefficient power management, and increased complexity in cyber-attacks, the smart grid security solutions will certainly play an important role in providing safety to critical infrastructure and enhanced power management.
– Rahul Kumar Pandey
ICT – Research Analyst