智能电网：通过科技投资推动减碳-58页-WN6.pdf

May 2023Powering decarbonisation through technology investmentSmarter G 群内每日免费分享5份+最新资料 300T网盘资源+4040万份行业报告为您的创业、职场、商业、投资、亲子、网赚、艺术、健身、心理、个人成长 全面赋能！添加微信，备注“入群”立刻免费领取 立刻免费领取 200套知识地图+最新研报收钱文案、增长黑客、产品运营、品牌企划、营销战略、办公软件、会计财务、广告设计、摄影修图、视频剪辑、直播带货、电商运营、投资理财、汽车房产、餐饮烹饪、职场经验、演讲口才、风水命理、心理思维、恋爱情趣、美妆护肤、健身瘦身、格斗搏击、漫画手绘、声乐训练、自媒体打造、效率软件工具、游戏影音扫码先加好友，以备不时之需扫码先加好友，以备不时之需行业报告/思维导图/电子书/资讯情报行业报告/思维导图/电子书/资讯情报致终身学习者社群致终身学习者社群关注公众号获取更多资料关注公众号获取更多资料ContentsSmarter Grids powering decarbonisation through technology investment2 2023 KPMG Advisory(Hong Kong)Limited,a Hong Kong(SAR)limited liability company and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Foreword03Executive summary0408IntroductionPart 1:Smart grid technology121.What makes a grid smart?122.Strategy and implementation20Part 2:Case studies:Markets and regulations enabling smart grid investment221.China Vertically integrated electricity market232.United Kingdom Liberalised electricity market303.United States Hybrid electricity market 36Key considerations for stakeholders44Conclusion47References4854About KPMG China56Acknowledgments57Guide to abbreviationsForewordWei LinPartner,Head of Environmental,Social and GovernanceKPMG ChinaEbele Angela OnyeaboAssociate Director,Climate and Sustainability KPMG ChinaAngus ChoiPartner,ESG AdvisoryKPMG ChinaEnergy transition is a critical imperative facing countries as they chart a course towards actualising their net zero ambitions.In the short term,energy security continues to be an important issue amid an inflationary economy and ongoing geopolitical uncertainties.In the medium to long term,countries need to address the energy trilemma of security,affordability and sustainability.Energy independence and the need to decarbonise the economy by transitioning from fossil fuels is a key policy and business opportunity driver.Many countries not only have strategic roadmaps for expanding renewable energy generation,but they are also charting pathways for alternate energy options including green hydrogen and energy storage.These changes have contributed to the renewed urgency to strengthen the grid.Reducing the carbon intensity of electricity generation and consumption requires additional action beyond renewable energy integration.The introduction of advanced technologies allows the grid to run more efficiently.Improved efficiency means less electricity is deployed towards satisfying the same energy demand profile.This in turn leads to emission reduction from power generation.The integration of smart technologies into the grid system,such as artificial intelligence-based data aggregation,is at the core of smart demand-side management and power decentralisation.The electric power industry is now catching up to the level of digital transformation that has permeated the communications industry due to the integration of advanced communication systems into the grid.This technology forms the bedrock of the smart grid revolution,allowing the grid to adapt quickly to the growing diversity and disparity in the energy mix across continents.Billions of dollars are being invested in smart electricity grids,including in the research and development of smart grid technology.The expansion of renewable energy(RE)assets is intricately linked to the growth of smart grids investment across the globe.In 2022,China accelerated smart grid investment with the State Grid Corporation of China(SGCC),budgeting more than RMB500 billion for ultra-high-voltage projects,increasing the digitisation of its grids and upgrading the distribution networks ability to cope with Chinas RE expansion.This report examines smart grid technology through the lens of deployment strategy,carbon reduction,investment and policy.We hope it provides you with valuable insights and we welcome the opportunity to discuss our findings further.Smarter Grids powering decarbonisation through technology investment3 2023 KPMG Advisory(Hong Kong)Limited,a Hong Kong(SAR)limited liability company and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.ForewordExecutive summaryIntroductionSmart grid technologyCase studiesKey considerations for stakeholdersConclusionReferencesAbbreviationsAbout KPMG ChinaAcknowledgmentsExecutive summaryDigitisation,decarbonisation and decentralisation are three core benefits of a smart grid.Through advanced artificial intelligence(AI)and cloud technology,a smart grid can enable the bidirectional flow of energy and communication,which helps to promote energy efficiency through enhanced precision in balancing electricity demand and supply,as well as the integration of decentralised energy sources.The combination of these three core benefits ultimately accelerates the decarbonisation of the electric power sector.This report analyses how smart grid technology enhances the operational and energy efficiency of the grid and better integrates renewable energy(RE),resulting in a significant reduction in emissions.This report evaluates smart grid technologies,the policies that support its implementation and the investments incentivised by these enabling policies.By focusing on investment flows through country-level case studies,the report analyses how the energy market structure of the UK,China and the US representing liberalised,vertically integrated andhybrid electricity markets respectively impact thedepth,scalability and adaptability of smart technologyinto various aspects of the grid.This analysis is madetaking into account countries electric power regulatorystructure,national decarbonisation goals and historicemission trajectory.Smarter Grids powering decarbonisation through technology investment4 2023 KPMG Advisory(Hong Kong)Limited,a Hong Kong(SAR)limited liability company and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.IntroductionSmart grid technologyCase studiesKey considerations for stakeholdersConclusionAbbreviationsAbout KPMG ChinaAcknowledgmentsReferencesForewordExecutive summarySmart grids are revolutionising the power sector,enabling better operational efficiency and integration of distributed energy resources(DER).Electricity consumers have more autonomy because of smart meters,photovoltaics(PV),vehicle to grid(V2G)and microgrids.The focus of energy savings and grid efficiency continues to shift from consumer power saving and behavior modification to an AI and data-enabled grid demand response.The advancement of the Internet of Things(IoTs)and blockchain are shaping the evolution of smart grid technology.Digital transformation in the electricity sector is currently being driven by a number of factors such as rapidly expanding electricity demand,the maturity of advanced technology and a desire to fortify the grid against cyberattacks and physical damage.Climate change and the associated need to efficiently incorporate more RE into the energy mix has also provided momentum.Smart grids integrate digital and cyber infrastructure to enhance the performance of the systems sensory,communication,data management and security functions.The ultimate goal in implementing such systems is to ensure a more efficient,green,resilient,clean,affordable and reliable grid.Consumers increasingly have access to more information about their energy use and sources.This information enables them save energy and contribute to energy efficiency.Consumers can also generate additional revenue by participating in electricity supply as“prosumers”.This flexibility is especially important for industrial consumers,who are levied with increasing emission costs and taxes,and are exploring pathways to reduce the carbon intensity of their production processes.The advancement of RE integration through PVs,battery energy storage systems(BESS)and microgrid technology provides a clear path towards reducing the carbon intensity of industrial processes.Studies show that population growth in various markets across the globe is causing electricity demand to continue to trend upwards.This in turn has an impact on the ability for jurisdictions to strive towards climate change goals.While energy transition remains the primary goal,energy efficiency has been identified as a significant source of potential emissions reduction in the power sector.The International Energy Agency(IEA)projects that countries with well-developed policies that support energy efficiency in grids could save up to 15%of their total electricity generation.1 Smart grids are increasingly improving operational efficiency through enhanced precision in Demand Side Management(DSM).Intergovernmental alliances and innovation institutes such as the International Smart Grid Action Network(ISGAN),are working to develop technology that enhances the consumer experience and bridges the communication gaps between energy supply and demand.However,technology segregation remains an issue.As this technology matures,public entities,consumers and third parties will have increased capabilities to interact with the grid.The integration of IoT in areas such as V2G and microgrids enables peer-to-peer trading of electricity(prosumerism).Digital enhancements in remote lighting,heating and cooling in places like malls,airports and even homes,will also help to cut down emissions and provide more consumption data that is essential to DSM.Key observations from our study include:Smarter Grids powering decarbonisation through technology investment5 2023 KPMG Advisory(Hong Kong)Limited,a Hong Kong(SAR)limited liability company and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.IntroductionSmart grid technologyCase studiesKey considerations for stakeholdersConclusionAbbreviationsAbout KPMG ChinaAcknowledgmentsReferencesExecutive summaryForewordThere are differences in the scalability and depth of smart grid technologies being deployed in various markets.COVID-19 impacted investment in grid infrastructure and smart metersFor example,Chinas vertically integrated electricity market enhances its ability to carry out piloting and testing in designated controlled zones and upscale the implementation of advanced transmission and distribution(T&D)technology.As a result,we see Chinas UHVDC T&D projects expanding even beyond its borders.In markets like the UK and US,competition is driving technology innovators to develop more and more advanced digital grid products.In contrast,less competition in markets that are more vertically integrated can impact the depth of technological advancement in those markets.The impacts of COVID-19 rippled through every aspect of the global economy and the electric power industry was no exception.Lockdowns caused supply chain issues that impacted the viability of new projects and the pace of existing ones.As parallels are drawn between this and the investment downturn in smart grids,it is also acknowledged that investment in this infrastructure is long-term,and the structures have an average life span of above 30 years.This indicates that there will be peaks and valleys in the grid investment trajectory.Smart grids,which are typically funded by governments,institutional investors and other private investors,are increasingly benefitting from sustainable finance and carbon reduction regulations.Smart grid investment has thrived in liberalised,hybrid and vertically integrated electricity markets,however market features impact growth in certain aspects of the grid.In 2021,climate-tech companies raised a total of$165 billion from global public equity markets and private investors.2 The market size for smart grid technology in 2021 was$36.9 billion and projected to hit$55.9 billion by 2026.3 Green and sustainable finance has become a major channel for raising capital for smart grids.For instance,in 2021,carbon neutral bonds issued by State Grid Corporation of China(SGCC)raised RMB15 billion to help finance smart grids projects.4 SGCC also issues sustainability-linked bonds to source working capital for the repair and maintenance of transmission lines,as well as the management of the grid system.5 Corporates,policymakers,financial institutions and utilities all have a collective role to play in ensuring the development and scaling of digitised,efficient,low-carbon grids.Investment in grid technology is tied to broad national strategic decarbonisation goals and access to finance.The highest levels of grid investment,advancement in grid technology and deployment of grid infrastructure currently exist in the UK(and generally across Europe),the US and China.However,electricity market features can cause several aspects of the grid to advance faster than others.For instance,China has invested significantly in ultra high voltage(UHV)transmission lines that span longer distances and integrate more RE,while markets like the UK promote consumers flexibility in supplier choice,enabling the wide deployment of smart meters.In the US,cutting-edge innovation driven by competition has helped to advance remote heating,ventilation,and air-conditioning(HVAC)systems.Smarter Grids powering decarbonisation through technology investment6 2023 KPMG Advisory(Hong Kong)Limited,a Hong Kong(SAR)limited liability company and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.IntroductionSmart grid technologyCase studiesKey considerations for stakeholdersConclusionAbbreviationsAbout KPMG ChinaAcknowledgmentsReferencesForewordExecutive summarySmarter Grids powering decarbonisation through technology investment7 2023 KPMG Advisory(Hong Kong)Limited,a Hong Kong(SAR)limited liability company and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.IntroductionSmart grid technologyCase studiesKey considerations for stakeholdersConclusionAbbreviationsAbout KPMG ChinaAcknowledgmentsReferencesExecutive summaryForewordIntroductionSmart grid technology enhances the operational efficiency of the grid and its ability to transmit energy with minimal loss.When developed and scaled,smart grids help address four main challenges facing the power sector:modernisation,decarbonisation,digitisation and electrification.Angus ChoiPartner,ESG Advisory,KPMG ChinaBackgroundElectricity generation is the largest source of energy-related carbon emissions,accounting for 36%of global emissions.6 These numbers are expected to rise furth