Urbanization, living standards and advancement in technology has increase the demand of energy requirement. This made electricity consumption rises to levels that may no longer be manageable if left unattended. This is an alarming situation not only for providing sustainable energy but also preservation of environment worldwide. Almost 75–80% of total energy consumption is consumed in cities which is responsible for 80% greenhouse gas emission. Traditional and centrally-controlled system for the distribution of electrical energy is being used for a long day. This is commonly name as power grid. Since the use of electricity, globally electric grids have similar structure, dynamics and principles even with the advancement of technology.

These traditional power grids are focused on only some of the basic functions like generation, distribution and control of electricity. The electricity grid in present form is unreliable, has high transmission losses, poor power quality, prone to brownouts and blackouts, supplying inadequate electricity, discouraging to integration of distributed energy sources. There is a lack of monitoring and real time control in the traditional non-smart systems, which creates a challenging opportunity for smart grids to act as a real-time solution. Countering these issues requires a complete overhauling of power delivery structure.

Smart Grid technology has a way for a solution for better generation of electric power and an efficient way for transmission and distribution of this power. Due to its versatility it can be more easily installed and required less space as compared to traditional grids. Concept of Smart Grid design is aimed for grid observability, create controllability of assets, enhance performance and security of power system and specially the economic aspects of operations, maintenance and planning. That’s why it is also consider that smart grid technology can be used to micro-grid level which eventually connect to all other micro-grids to form a large network of Smart Grid.

This article discusses an overview of the Smart Grid, its features and functions which includes reliability, security, energy management, self-healing. It will also discuss that how smart grid is changing the concept of grid technology and how much potential to revolutionized in modern electrical power grid.

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