The smart grid is the future of power industry where smart meters are the most fundamental component. These are the next-generation power measuring devices for easy monitoring and control. In addition to communication networks and sophisticated computing with smart meter, significant improvement in efficiency and reliability of grid system can be achieved. Simultaneously the renewable and distributed energy sources could be incorporated leading to changes in the scenario of energy exchange by switching its direction as and when required. The positive environmental consequences as a result of significant CO <inf xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">2</inf> reduction is possible by implementing demand side integration. This paper demonstrates how smart meters can overcome different issues of conventional grids, a variety of functions and uses, along with the benefits and costs associated with them.
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Biswal et al. (2021) studied this question.
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