Social Responsibility Aspects of Smart Power Grids

Abstract

Social responsibility is of great significance in todays' business environment so that ignoring that could have detrimental effects in both business and society. Mere attention of businesses to economic aspects to attain short-term financial goals could result in severe long-term environmental, health, and security disasters. As power industry moves toward smart grid and adoption of smarter technologies, the requirement for improving social responsibility is increasingly introduced. However, there is a quite close interrelationship between smart grid and social responsibility since smart grid per se on contribute to social responsibility improvement by improving renewable penetration, consumer engagement in demand management schemes, self-healing energy network, etc. The aim of this article is to illumine the social responsibility aspects of smart grid. In other words, this paper attempts to describe how smart grid improves social responsibility.