Author: Suresh Kaushik, Kavyansh Chakrborty, Pankaj Singh.
Abstract: The transformation of the conventional power grid into a smarter and more efficient system, known as the smart grid, has gained immense attention in recent years due to the increasing demand for sustainable and reliable energy solutions. This paper presents a comprehensive review of smart grid technologies and grid modernization efforts. It explores the key components of a smart grid, discusses the benefits and challenges associated with its implementation, and examines the various technologies and strategies employed to achieve grid modernization. The paper also delves into the potential implications of smart grid adoption on the energy sector, consumers, and the environment. By analyzing the current state of smart grid development and evaluating its potential for future advancements, this review aims to provide valuable insights into the ongoing transformation of the power grid.
Keywords: Smart Grid, Grid Modernization, Advanced Metering Infrastructure, Energy Storage Systems, Demand Response, Intelligent Distribution Systems, Microgrids, Communication Networks, Data Analytics, Artificial Intelligence, Energy Efficiency, Renewable Energy Integration.
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