The Energy Independence and Security Act of 2007 is legislation where the National Institute of Standards and Technology (NIST) initiated the Smart Grid Interoperability Panel (SGIP) to support NIST in fulfilling its responsibility to coordinate standards development for the smart grid.
The SGIP is a collaboration platform that has been working on fostering interoperability for the construction of the nation’s energy infrastructure, the Smart Grid. The process for getting SGIP to focus its resources on specific issues and objectives is through the Priority Action Plan process.
We have submitted a proposed Priority Action Plan 25 to recommend that SGIP should support the public and private energy industry and regulatory bodies working with XBRL and adopting XBRL-CET to promote interoperabilty with financial services that serve the energy industry.
In California building the Smart Grid is administered by California Independent System Operator (“CALISO”) and California Public Utilities Commission which oversee the Interconnection Application Process. CALISO publishes the status of development on the internet so that all stakeholders can monitor the progress, however the excel spreadsheet is not as useful as it could be because the data has to be reviewed manually and each project has to to be individually located. Given CALISO already publishes the excel data online for stakeholders, and an excel spreadsheet can be saved as an XML document, we are exploring if we can provide CALSIO with both the current version and the XBRL-CET tags so that the resulting spreadsheet can be imported by stakeholders, thereby allowing systems to filter the data for what is relevant to each stakeholder.
The Digital Accountability and Transparency Act of 2014 or the DATA Act, mandates any federal funding must have financial reporting using an open standard, made it clear that compliance would necessitate adoption and implementation of a standard. While it does not mandate XBRL it does allow for XBRL to emerge as the standard adopted by industry.
The Department of Energy created the Green Button initiative, a formal Data Set for energy usage so that computer application programmers could freely create applications to reduce energy consumption. There are currently over 260 applications enabled by the Green Button energy Usage Data Set.
As an encouragement to computer application developers to continue creating new applications that can use Data Sets like the Green Button the Department of Energy is hosting various competitions, with one entitled “Energy Data by Design”. That new XBRL-CET energy related data set can be related to the building the smart grid.
Priority Action Plan 25 seeks to have SGIP provide its collaborative platform to include financial services and construction that would represent a collaboration between industry trade associations AGC, Acord and XBRL US with public agencies like the Department of Energy, National Institute of Standards and Technology and the Federal Energy Regulatory Commission, so data fields used in building and financing Smart Grid activities were formally recognized in the XBRL taxonomy.
XBRL Extension for Construction, Energy and Transportation