Abstract--The Smart Grid is the integration of Electrical & Digital Technologies, Information and communication which facilitates integration of business processes and systems to yield real measurable value across the power delivery chain. It is an intelligent future electricity system that connects all supply, grid and demand elements through a communication system. Smart grid delivers electricity to consumers using two-way digital technology that enable the efficient management of consumers, efficient use of the grid to identify and correct supply- demand imbalances. Smart Grid solutions enable utilities to increase energy productivity and power reliability while allowing the customers to manage the usage and costs through real time information exchange. It impacts all the components of the power system like Generation, Transmission and Distribution.
According to a definition by the Department of Energy (DOE), the "smart grid" generally refers to a class of technology people are using to bring utility electricity delivery systems into the 21st century, using computer-based remote control and automation. These systems are made possible by two-way communication technology and computer processing that has been used for decades in other industries. They are beginning to be used on electricity networks, from the power plants and wind farms all the way to the consumers of electricity in homes and businesses. The “grid” amounts to the networks that carry electricity from the plants where it is generated to consumers. The grid includes wires, substations, transformers, switches and much more. And the Smart Grid is a collection of energy control and monitoring devices, software, networking and Communications infrastructure that are installed in homes, businesses, and throughout the electricity distribution grid. smart grid means “computerizing” the electric utility grid. Each device on the network can be given sensors to gather data (power meters, voltage, sensors, fault detectors, etc.), plus two-way digital communication between the device in the field and the utility’s network operations center. A key feature of the smart grid is automation technology that lets the utility adjust and control each individual device or millions of devices from a central location. Since the existing power grid is designed neither by latest technologies nor to comply with rapidly climate changes .Most of the world existing electricity power systems that have been served us for a long time will soon reach their limitations. The majority of those traditional electricity power grids are neither designed in purpose to comply with rapidly climate changes and the demand for a high energy-efficiency nor use the latest technologies. A new intelligent power grid is urgently needed and will soon be applied to power market. Where the smart grid technologies are enablers to schedule loads at thconsumer level to save energy, reduce cost, and help grid operation. In the next few years, millions of smart meters, sensors, and automatic control devices will be deployed in electric power distribution grids down to residential and commercial buildings via two-way
communication networks. Retail pricing schemes, such as real-time pricing (RTP), time-of-use (TOU), and critical peak pricing (CPP), are being designed by utilities to bring retail electricity prices to end-use devices to provide incentives for consumers to actively participate in energy efficiency or demand response (DR) programs. The paper focuses on presenting the latest technology developments in smart electric power usage by smart grid technique. 2. ISSUES WITH EXISTING GRID
Through the 1970s to the 1990s, growing demand of electricity led to increasing numbers of power stations. In some areas, supply of electricity, especially at peak times, could not keep up with this demand, resulting in poor power quality including...
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