The rising share of renewable energy in the energy mix across ASEAN countries has propelled the need for increasing usage of smart grids. Moreover, there is an essential concern for transparent energy consumption and billing to track the pattern of energy consumption of consumers. In countries such as Singapore and Malaysia, there is huge availability of renewable energy. As a result, the smart grid market currently exhibits a stable growth.

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However, the smart grid market in the countries such as Thailand, Vietnam, and Indonesia is anticipated to display huge growth prospects supported by innovative technological advancements in the energy sector. The ASEAN smart grid market is expected to progress at a healthy rate in the future, supported by the gradually growing affinity to reduce transmission and distribution (T&D) losses and integrate distributed generation systems in the electrical grid.

However, there lies a challenge for the power utilities and investors to continuously evaluate smart grid projects to define a specific tenure for return of investment (ROI). Moreover, the setup of a smart grid project involves in advance economic analysis to estimate the cost the benefits associated with that particular project. The economic analysis will give a clear idea about the capital cost invested in a particular project, its scope, and the benefits associated with the same. For developing countries such as Singapore, the benefit can be easily identified by analyzing a customized smart grid project. One such method for evaluating the smart grid investment is cost benefit analysis. Therefore, a customized smart grid project has been considered to analyze the cost and benefit associated with that project for Singapore.

The smart grid software segment currently holds the highest share of the ASEAN smart grid market (by product offering). The smart grid software is used by the power utilities to efficient manage the electricity distribution and transparent monitoring of electricity consumption using metering data management system. Moreover, vehicle electrification and HVAC systems are mainly responsible for the load on the grid.

In 2019, the transmission and distribution automation technology is expected to represent the highest share amongst all smart grid technologies across ASEAN countries. In order to achieve complete transmission automation across the power industry, smart grid software known as substation automation system allows continuous monitoring and protection of transmission substations. The major components used for the automation of transmission equipment are SCADA, programmable logic controller, distributed control system, and human machine interface. These components are connected to each other using information and communication technology which transmits continuous signals regarding transmission and further to the power distribution utilities. The companies involved in offering transmission automation products and services include Schneider Electric, Honeywell International, General Electric, and Crompton Grieves, among others.

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Distribution Automation deals with optimizing the grid distribution network using automation technology enabled within smart grids. In order to increase the reliability of the distribution grid, the grid needs to be self-sufficient to identify the unusual activities within the grid. These unusual activities could include sudden increase in the electricity demand, heavy load appliances being integrated in the grid, or occurrence of false metering data due to fault in the communication network. All these concerns can be addressed using distribution automation technology. Moreover, distribution automation plays a crucial role while integrating the distributed generation sources into the grid at the time of increase in electricity demand. The leading companies involved in providing distribution automation are ABB Ltd, Schneider Electric, Eaton Corporation, and Siemens AG.

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