Smart grid technologies and implementation

Abstract

Deregulation and privatization are posing new challenges on the existing grid system. System elements are loaded up to thermal limits, and power trading with fast varying load patterns is contributing to an increasing congestion. The dramatic global climate developments demand for changes in the way electricity is operated. Utilities across the world are trying to figure out how to bring the convectional network into the 21st century and the digital computer age. However, while modern technologies have transformed much of the economy, the electric industry has yet not embraced and implemented these technologies. This paper reviews works related to smart grid, presents the need for smart grid technologies by identifying its benefits and presenting different areas of its application for the realization of smart grid vision, and implementation of reliable and efficient smart grid. Proper utilization of these technologies could bring improvement to the operation of smart grids and possibly eliminate the challenges it poses.