A study of load prediction and load flow patterns in an IoT enabled Smart Grid with a dynamic energy market

Abstract

Smart Grid and Internet of Things (IoT) are the latest trends respectively in the domains of Power Engineering and Computer Science. The amalgamation of the two presents enormous potential to improve the efficiency, security and reliability of the power grid. In this paper, the authors review existing solutions and propose their ideas, as an improvement over existing techniques to realise the idea of a Smart Grid and a competitive Energy market by application of Mathematical and Statistical tools to analyse and predict load demand as well as agent behaviour in the present scenario.