The development of new technologies is faster than ever before in the human history, and as such there is an increased need of adaptation. In this sense, the present paper argues that current electrical grids should be transformed into a more modern and sustainable grid – the smart grid. This article will review the current situation from three main perspectives: economic, social and environmental. Each of these dimensions is influenced by various factors and in this paper we will systematically evaluate them. Our analysis suggests that currently there is a series of benefits offered by smart grids attributable to each dimension. Still, the level to which consumers will enjoy them is also conditioned by their willingness to embrace this technical change and transition to a new way of engaging with energy consumption through a user mediated relationship. Read more
Keywords:
smart grids, infrastructure development, environmental benefits
JEL:
A13, D61, F64