Development of a smart grid cost benefit analysis system

Abstract

Due to the current energy situation worldwide, smart grid system has become one of

the hottest research topics in the electrical power field in recent decades. However,

smart grid technology is in early development, and it is still in research stage with

many aspects not yet completed. People need to know whether the changes can make

profit or not before they carry out the real projects.

In this project, a cost-benefit analysis system is developed to calculate the electricity

energy saving and financial interest, when new changes are made to the current

demand side system.

The system developed is based on graphical programming language LabVIEW.

Three different electrical appliances, namely lighting system, cooling system and

fans are chosen in the project. Different entries of front panel, built-in formulas to

calculate the savings and block diagram connections are discussed in the report. Case

studies are also carried out to simulate real cases. The function of the developed

software includes calculating savings, plotting graphs and generating report,which

will be discussed in the report as well.

Finally, conclusions and recommendations are made on related future work.