Analysis of the life cycle cost and intelligent investment benefit of smart substation

As an important basic node of strong smart grid, smart substation is an important part of construction of smart grid. Compared with conventional substation, smart substation adds intelligent terminal, merging unit, electronic instrument transformer, on-line monitoring and other primary intelligent equipment, which increase the construction cost considerably. Moreover, the application of sequential control, device status visualization and other advanced functions reduces the operation cost instead. Therefore, analyzing the life cycle cost and intelligent investment benefit of smart substation timely is of great significance, providing reference and basis for controlling the construction cost level of smart substation and optimizing design scheme. Taking a sample of smart substations in operation, this paper analyzes the difference of life cycle cost between smart substation and conventional substation of the same scale, and calculates the economic benefit of intelligent investment in smart substation. Finally, various measures affecting the life cycle cost of smart substation are quantitatively analyzed by sensitivity analysis.