A typical Smart Grid can be described as a machine responsible for generation, transmission as well as distribution of electricity, which is designed to automate and tackle the complexities and requirements that are getting enhanced significantly in modern power networks. The Smart Grid is specifically meant for monitoring the activities of the grid, and therefore assisting in optimizing the management of core grid assets. Consequently, unwanted outages can be prevented, thereby making way for better task delivery. To add to the benefits, the concerned technology in the task of implementing a Smart Grid helps in integrating renewable energy sources for example, solar energy along with wind and hydro energy, providing them back up and at the same time deliver real-time information that would assist consumers to keep a track of their level of energy consumption. This will act as a guiding force for consumers to keep a check on their electricity usage.
According to industry veterans, the implementation of Smart Grids can prove to be fruitful for both the service providers as well as the consumers. Most organizations, which still rely on traditional grids, often confront problems such as an environmentally incompetent system, which end up releasing greenhouse gases. The major reason behind this is that the system itself is a large consumer of fossil fuels, a source of exhaustible energy. However, an exemplary transformation has taken place in the process of generation and distribution of electricity, which as predicted, will make headways for smart electricity consumption and in the long-run, will promote conservation of the renewable sources of energy.