Assessment for Efficient Operation of Smart Grids Using Advanced Technologies

Abstract

Current translation of electrical power systems towards smart grids is encompassing a fundamental change in their structure, as well as operation. These coordinates are setting the paths to be followed by the hardware and software embedded in electrical power systems, as well as technology adaptation to the “open-source” customers’ needs and consumption patterns. This paper is following the evolution of energy sector, accompanied by constant improvements of technology, which is providing increasingly complex hardware, which embeds power quality improvement devices, for an efficient operation of electrical power assets. A comprehensive survey of continuous advances of renewable energy sources and storage technology will be presented, which have started the transformation of end-users into energy efficient and clean prosumers, underlining the subsequent energy markets support of peer-to-peer energy trading through novel technologies as blockchain.