Analysis on trends and future signs of smart grids

Author(s): Chankook Park a, Seunghyun Cho b
a Korea Energy Economics Institute, 405-11 Jongga-ro, Jung-gu, Ulsan, 44543, South Korea
b NH Future Management Research Institute, 16 Saemunan-ro, Jung-gu, Seoul, 04516, South Korea
International Journal of Smart Grid and Clean Energy, vol. 9, no. 3, May 2020: pp. 533-543
ISSN: 2315-4462 (Print)
ISSN: 2373-3594 (Online)
Digital Object Identifier: 10.12720/sgce.9.3.533-543

Abstract: In such a wide range, understanding the current status and future prospects of smart grid issues requires much effort and time. Recently, with the spread of big data in the form of text and development of computing technology, efforts to automate trends review and future prospects are continuing. In particular, efforts are being made to derive future signs through text mining using the concept of weak signals. However, since the related research is still in the early stage, there are many improvement tasks. Currently, the output derived from the future signal derivation methodology using text mining is a keyword type. Since the keyword can have various meanings, there is a difficulty in practically interpreting the keyword. In this study, we examined trends of smart grid industry, explore future signs, and try to improve the interpretation of the future sign keywords through text mining. As a result, through the recent three years of smart grid news articles, we reviewed various keyword-type signals in relation to smart grid technologies, smart grid application scopes, smart grid regions and countries. Also, we suggested an alternative to interpret keywords in a more easy way and have examined some points to consider for developing more advanced methods in the future.

Keywords: Smart grids, weak signal, future sign, text mining
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