Dynamic Demand is the name of a semi-passive technology to support demand response by adjusting the load demand on an electrical power grid. It is also the name of an independent not-for-profit organization in the UK supported by a charitable grant from the Esmée Fairbairn Foundation, dedicated to promoting this technology. The concept is that by monitoring the frequency of the power grid, as well as their own controls, intermittent domestic and industrial loads switch themselves on/off at optimal moments to balance the overall grid load with generation, reducing critical power mismatches.
A virtual power plant (VPP) is a cloud-based distributed power plant that aggregates the capacities of heterogeneous distributed energy resources (DER) for the purposes of enhancing power generation, trading or selling power on the electricity market, and demand side options for load reduction. DER assets in a VPP can include photovoltaic solar, energy storage, electric vehicle chargers, and demand-responsive devices (such as water heaters, thermostats, and appliances) with examples of virtual power plants existing in the United States, Europe, and Australia.
A load-following power plant, regarded as producing mid-merit or mid-priced electricity, is a power plant that adjusts its power output as demand for electricity fluctuates throughout the day. Load-following plants are typically in between base load and peaking power plants in efficiency, speed of start-up and shut-down, construction cost, cost of electricity and capacity factor. Base load power plants are dispatchable plants that tend to operate at maximum output.
A microgrid is a local electrical grid with defined electrical boundaries, acting as a single and controllable entity. It is able to operate in grid-connected and in island mode. A 'Stand-alone microgrid' or 'isolated microgrid' only operates off-the-grid and cannot be connected to a wider electric power system. A grid-connected microgrid normally operates connected to and synchronous with the traditional wide area synchronous grid (macrogrid), but is able to disconnect from the interconnected grid and to function autonomously in "island mode" as technical or economic conditions dictate.
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology.
A smart grid is an electrical grid which includes a variety of operation and energy measures including: Advanced metering infrastructure (of which smart meters are a generic name for any utility side device even if it is more capable e.g. a fiber optic router) Smart distribution boards and circuit breakers integrated with home control and demand response (behind the meter from a utility perspective) Load control switches and smart appliances, often financed by efficiency gains on municipal programs (e.g.
Peaking power plants, also known as peaker plants, and occasionally just "peakers", are power plants that generally run only when there is a high demand, known as peak demand, for electricity. Because they supply power only occasionally, the power supplied commands a much higher price per kilowatt hour than base load power. Peak load power plants are dispatched in combination with base load power plants, which supply a dependable and consistent amount of electricity, to meet the minimum demand.
Vehicle-to-grid (V2G), also known as Vehicle-to-home (V2H), describes a system in which plug-in electric vehicles (PEV) sell demand response services to the grid. Demand services are either delivering electricity or by reducing their charging rate. Demand services reduce pressure on the grid, which might otherwise experience disruption from load variations. Vehicle-to-load (V2L) and Vehicle-to-vehicle (V2V) are related, but the AC phase is not sychronised with the grid, so the power is only available to an "off grid" load.
Distributed generation, also distributed energy, on-site generation (OSG), or district/decentralized energy, is electrical generation and storage performed by a variety of small, grid-connected or distribution system-connected devices referred to as distributed energy resources (DER). Conventional power stations, such as coal-fired, gas, and nuclear powered plants, as well as hydroelectric dams and large-scale solar power stations, are centralized and often require electric energy to be transmitted over long distances.
Grid energy storage (also called large-scale energy storage) is a collection of methods used for energy storage on a large scale within an electrical power grid. Electrical energy is stored during times when electricity is plentiful and inexpensive (especially from intermittent power sources such as renewable electricity from wind power, tidal power and solar power) or when demand is low, and later returned to the grid when demand is high, and electricity prices tend to be higher.
