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Smart Grid refers to technology which intelligently links electrical elements to electric grid. This provides essential basis of information accessible to both electricity providers and consumers. Smart Grid technology has very good scope in future. This is because it helps to prevent the degradation of environmental quality for human survival. For solution to the problem of greenhouse effect Smart grid helps to reduce CO2 emissions by integrating renewable energy resources to the conventional sources of electricity generation. This system helps to reduce dependency over the conventional energy resources. It provides necessary upgrades to the existing power system and networks to meet the consumer power requirements. Smart Grid helps to regulate and control the Main Grid (Conventional Grid). It provides a reliable infrastructure to the electric grid enabling improving generation, transmission and distribution efficiently. It provides a common platform for energy monitoring data to both utility and consumer with the help of Smart Meters. The energy consumption data is sent wirelessly using microcontrollers and IoT Technologies. This results to both utility and user end satisfaction. Smart grid is committed to improve economy of the nation by decreasing additional power budget for maintenance of existing grid.
Rai et al. (Fri,) studied this question.