Implementing Virtual Buffer for Electric Power Grids

The electric power grid is a vital network for every aspect of our life. The lack of buffer between generation and consumption makes the power grid unstable and fragile. While large scale power storage is not technically and economically feasible at present stage, we argue that a virtual buffer could be effectively implemented through a demand side management strategy built upon the concept of dynamic data driven paradigm. An intelligent scheduling module implemented inside a smart meter enables customers to access electricity safely and economically. The managed use of electricity acts effectively as a buffer to provide the much needed stability for the power grid. Pioneering efforts intending to implement these concepts have been conducted by groups such as the Consortium for the Intelligent Management of Electric Grid. Progresses have been made and reported in this paper.