Electric Power Grid Modernization and Energy Management Roadmap

Abstract: 

Generation, transmission, and distribution have been an integral part of the conventional power sector, interconnected over long distance through a diverse network of wire known as the electric grid. The grid has been an incredibly important and complex system, signifying the modern era’s most remarkable engineering feats. With the evolution of cost-effective energy storage devices and the new green distributed energy resources concept of microgrid and smart grid has come into action and gained immense popularity. The aim of designing and developing a decentralized grid mainly focuses on operating autonomously, strengthening grid resilience. Moreover, it proves fantastic in mitigating grid disturbances with faster system response and recovery rate; it has been characterized by dual operative nature, which includes both gridconnected or island mode. Smart grid is a concept which upgrades the conventional electrical power grid by adopting automatic control devices; implement smart communications technologies, analyzing real-time data, applying the software-based solution for continuous, efficient, and cost-effective power transmission and distribution. In this paper, the authors have made an effort to undergo potential case studies and present a brief investigative report on the Indian Power Sector transition to techno-economic viability and strategic management to relinquish a specific outcome