Economic Evaluation Of Digital Substation Project Based On The Life Cycle Cost

Digital substation, which has more benefit than traditional substation, will become main constitute in electrical power system in the future. Thus, the operational maintenance cost of digital substation will take a high rate in whole power grid cost. And Life Cycle Cost(LCC), which can reduce the cost of substation investment, become valubale for us to research.After study the integral model of digital substation, LCC theory was used to reduce the project life cycle costs and increase the economic benefit of substation in this paper.And three-level networks of digital substation based on IEC61850, which formed the integral model of digital substation, were first presented in this paper. Then, aimed at this model, the concept of Life Cycle Cost (LCC) management was intorduced. And the functions of LCC were then discussed.Combining different characteristics of the various stages of substation cost, the content and features of the substation's LCC were analyzed. Then LCC cost estimation formula was determined. Ather that, the sensitivity of different factors influencing in digital substation were analyzed by using LCC.Finally, combined with value engineering methods, an example was discussed to demonstrate that the evaluation is correct and effective.