Integration of unpredictable renewable power sources into the Grid is leading to the development of wide area control algorithms and smart grid. Smart meters are the first step in the building a smart consumer interface. Much more, however, would be required in building a smart grid than just smart meters. This paper explores the conceptual architecture of smart grid. It highlights the need for additional infrastructure to realize full potential of smart grid. The information presented in this paper is an attempt to uncover what the future in smart grid could be and what infrastructure would be required to tap its potential. As smart grid evolves, more functionality would be built in the constituents. The paper also proposes mathematical basis for some of the controller algorithms.
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