ABSTRACT
The growing number of renewable energy sources in the world has resulted in a more dispersed power generation energy sector (Fuchs et al., 2012). The replacement of centralized power generation by decentralized renewable energy generation is the principal goal of smart grids everywhere. A smart grid has sensors throughout to enable it to monitor itself. The sensors will send information back to a control station where it will be analyzed and, if necessary, corrective actions can be taken. If, for example, a transformer in a substation were to malfunction, the control system will know from the information sent back by the sensors. Once the smart grid is aware of the failure it can supply customers with electricity through another route in the grid while the transformer is being repaired or replaced. While a regular power grid only allows electricity to flow from the producer to the customer, a smart grid, also known as an intelligent grid, intelligrid, future grid, intergrid, or intragrid, allows for electricity to flow in both directions. It will also have more distributed power generation locations compared to a regular power grid, be self-monitoring and self-correcting.
