Methodology for cost benefit analysis of smart grid used in decision support

Abstract

This paper studies the cost benefit analysis (CBA) methods that can improve the decision support capability of smart grid deployment. Critical review based on various methodologies adopted worldwide has been carried out and detailed analysis was conducted. The finding demonstrates as there are no agreed guidelines for CBA. Also in real-life situation, due to large amount of data and data quality could be low, it is suggested developing CBA methodology based upon intelligent techniques such as neural and evolutionary computing may have a good potential for the future.