An Extensive Critique on Smart Grid Technologies: Recent Advancements, Key Challenges, and Future Directions

Given the various aspects of climate change and the growing demand for energy, energy efficiency and environmental protection have become major concerns worldwide. If not taken care of, energy demand will become unmanageable due to technological growth in cities and nations. The solution to the global energy crisis could be an advanced two-way digital power flow system that is capable of self-healing, interoperability, and predicting conditions under various uncertainties and is equipped with cyber protections against malicious attacks. The smart grid enables the integration of renewable energy sources such as solar, wind, and energy storage into the grid. Therefore, the perception of the smart grid and the weight given to it by researchers and policymakers are of utmost importance. In this paper, the studies of many researchers on smart grids are examined in detail. Based on the literature review, various principles of smart grids, the development of smart grids, functionality of smart grids, technologies of smart grids with their characteristics, communication of smart grids, problems in the implementation of smart grids, and possible future studies proposed by various researchers have been presented.