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Radical changes are expected to occur in the next years in the electricity domain and the grid itself which has been almost unchanged the last 100 years. Value is created when interactions exist and this is the main thrust of the emerging SmartGrid which will heavily rely on IT technologies at several layers for monitoring and control. The basic building blocks are the existing efforts in the domain of the Internet of Things and Internet of Services, that come together with cooperation as the key enabler. The SmartGrid is a complex ecosystem of heterogeneous (cooperating) entities that interact in order to provide the envisioned functionality. Advanced business services will take advantage of the near real-time information flows among all participants. In order to realize the SmartGrid promise we will have to heavily depend on Cyber-Physical Systems (CPS) that will be able to monitor, share and manage information and actions on the business as well as the real world. CPS is seen as an integral part of the SmartGrid, hence several open issues will need to be effectively addressed.
Date of Conference: 26-29 July 2011