Abstract
Advancement in energy technologies are much needed for social and economical enlargement of our society. The weakest electric grid in the world in India lost 26% of total power generation as transmission and distribution losses. The sustainable energy resources and development of efficient modules are highly required in present power system. Existing power system is designed as a one way supply system from source to utility. The objective of this paper is to study the problems of conventional power grids in India, and optimize the problems through smart grid to enhance the bidirectional flow of power in distribution network. The increasing embodiment of renewable energy sources and variable energy consumption patterns make the smart grid complex. Smart grid (SG) components such as smart meters, virtual power system and microgrid are discussed with challenges in adoption of smart grid. Renewable energy sources provides a solution against the emission of CO2 from conventional power system by the establishment of smart grid. Game theory approach has been proposed in smart grid to conflicting the grid secure in global environment and reduces the dependency of consumers on fossil fuel sources. This paper discusses the overview of game theory, Cooperative and noncooperative game theory.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
