A Review on Industry Challenges in Smart Grid Implementation

As the gap between supply and demand of electrical power is getting wider the continuous power supply is not possible for all at the same time. Existing power grid is not well suited for 21st century power flow from generation to end user. To focus on the challenges of 20th century grid like blackout, power discontinuity, Frequency variation, etc. the new concept of smart grid emerged. It is expected to be new industry platform. The aim of this paper is to recognize the challenges that smart grids are facing in implementation by industry. This paper presents critical issues on smart grid technologies mainly in terms of the technological challenges to the industry along with business, economic, regulation and standardization challenges. The main objective of this paper is to provide a coeval look at smart grid challenges and to discuss the research issues in this field which is still-open. It is expected that this paper will provide a better understanding of the technologies, advantages and the research challenges of the smart grid implementation and provoke interest among the researcher to further explore and evolve this promising research area.