The Research Of Investment And Financing Mode About Smart Grid Based On Distribution Network Reconstruction

All power users around the world require more for power service quality, higher energy efficiency makes the promotion of smart grid applications obviously urgent and necessary. This paper discussed mainly about the investment strategies and financing modes of smart grid based on distribution network technological reconstruction.In china, the construction of smart grid is based on the intelligence of power distribution and power consumption, and power grid company mainly focus on the power distribution side of smart grid, that is investment on distribution line, load dispatching office, measuring instrumentation and controlling facility. The success of the enormous project not only needs huge financial support, but also needs more complete, advanced power grid investment and financing process.This paper briefly introduce the research background of smart grid, the main research idea of this paper and the research status in this field both in china and abroad in the first chapter. The second chapter introduces the investment and financing mode of traditional power grid and its drawbacks, then proceeds with the necessity analyzing of new investment and financing selection which combined with the investment and financing feature of smart grid. The third and the fourth chapter introduce the investment of smart grid based on distribution network reconstruction, then presents an idea that introduce project financing, asset securitization financing and some other market-oriented financing process into the construction of smart grid on the basis of some traditional financing modes. Meanwhile using the Black-Scholes model in real options theory to proceed with investment evaluation of smart grid which replacing the traditional discounted cash flow method. Then use real case to proceed with the feasibility study of Black-Scholes model in investment evaluation of smart grid.