Abstract

Purpose of the paper is to discuss and analyze Smart Grid, particularly explain its need and basic idea behind it. Further, different characteristic features are explained. Here we present different ways in which smart grid can overcome different problems in conventional electricity grid. It is also explained that how smart grid can overhaul the Home Energy Management System (HEMS). Additionally, status of smart grid in India and abroad is given. As a result, it is concluded that smart grid development will allow consumers to use energy effectively and thus help in securing energy needs of India and the world. It will be an important component of Smart City mission of Indian Government as well.

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