Transformational Relationship of Renewable Energies and the Smart Grid

Publisher Summary The chapter introduces numerous problems for both human health and that a stable global climate are created due to the increase of greenhouse gas emission created. The scope of the challenges in both the energy and climate sectors are far-reaching. It directly relates to our dependence on traditional carbon-based fossil fuel. The rising energy consumption and fluctuating oil prices also cause increased national security concerns. The target of using a portfolio of renewable energies is gaining important government support and attracting significant private investment. Presently, the renewable energy technology is developing fast and is projected to soon become economically competitive. This situation is at present thought of as at the heart of our energy crisis. But most of the solar renewable energy is not available to us. Acquiring only about 0.01% solar energy is sufficient to meet the world's requirements today.