A Criticality-based Approach for the Analysis of Smart Grids

Smart Grids offer higher level capabilities intended to meet current and future energy demands. These demands include improved performance related to concepts of reliability, resiliency, environmentally friendly generation, transmission, and distribution as well as turning consumers into prosumers. This study focused on two primary objectives: (1) to understand how the concept of risk is currently being addressed in Smart Grids, and (2) to suggest a more holistic view of risk for Smart Grids. Pertinent literature on Smart Grids was collected and synthesized for the concept of risk which indicated the prevalence of two factors, probability and consequence, as the main factors for Smart Grid risk quantification. However, it was discovered that current literature appears to focus on risk within the different domains of Smart Grids (i.e., generation, transmission, distribution, customer, service provide, operations, markets) without consideration Smart Grids as an integrated whole. A criticality-based approach (CBA) is proposed and then used as the basis for development of an extended listing of measures, including dependency, interdependency, and resiliency, as well as accepted risk factors (i.e., probability and consequence). This confluence of factors can be utilized in a holistic Smart Grid analysis. Implications for CBA and future research directions for realizing enhanced Smart Grid capabilities are provided.