Towards Optimization Approaches in Smart Grid A Review

Smart grid is the advancement of conventional grid with the help of computational intelligence and networking abilities of various communication networks to develop sustainable, robust, efcient and resilient power grid. It is considered to be the next future grid, using bidirectional stream of electricity through communication module that provides an environment to change the behavior of consumer to prosumer, who can independently generate and manage import/export electrical energy in the local community. Smart grid provides adaptive, procient, self-healing and secure power system which allows the various stakeholders to exchange power through grid. For effective operation of smart grid, it is necessary to have secure interoperable and efcient communication network among the electronic gadgets used in smart grid as well as in consumers premises. Efcient communication and optimization schemes is required for the data exchange among the communication modules to optimize the power system. Our contribution includes the comparative analysis on various optimization techniques that can be used in smart grid for energy management. To address the challenges for the successful deployment of smart grid, we have enlisted major hurdles that could hamper the smart grid operation and control. We believe that this research article will be a useful to early stage researchers working in the energy optimization of smart grid.