Analysis of Design of Technologies, Tariff Structures, and Regulatory Policies for Sustainable Growth of the Smart Grid

Deployment of the smart grid technologies, regulatory policies, and tariff designs in an efficient, cost-effective, and scalable manner is necessary for sustainable growth of the smart grid. This can be achieved by bringing together all enabling technologies and all key stakeholders under one roof. Technological innovations, utility restructuring, power sector regulatory policies and environmental concerns are a vital basis for smart grid development and promotion of renewable energy integration in the modern power sector. Utility restructuring and favorable regulatory policies open the energy market. These market dynamics will promote the small-scale power generation technology. As the renewable energy sources (RESs) can respond well to market signals by control actions, they are chosen for small-scale generation. A preferential transmission tariff to promote RESs integration is also a practical need of the present power sector. In this article, we try to analyze the technological base development, development of preferential tariff, and vital regulatory policies that help in sustainable growth of the smart grid in the modern power sector.