Challenges, issues and opportunities for the development of smart grid

The development smart grids have made the power systems planning and operation more efficient by the application of renewable energy resources, electric vehicles, two-way communication, self-healing, consumer engagement, distribution intelligence, etc. The objective of this paper is to present a detailed comprehensive review of challenges, issues and opportunities for the development of smart grid. Smart grids are transforming the traditional way of meeting the electricity demand and providing the way towards an environmentally friendly, reliable and resilient power grid. This paper presents various challenges of smart grid development including interoperability, network communications, demand response, energy storage and distribution grid management. This paper also reviews various issues associated with the development of smart grid. Local, regional, national and global opportunities for the development of smart grid are also reported in this paper