Reliability-based appraisal of Smart Grid challenges and realization

Several studies on the migration strategies to enable the realization of various visions of Smart Grids (SGs) from the existing legacy power systems are on the anvil. A subjective treatment of `reliability´ as encountered in the several existing working definitions on SGs leaves much to be desired. Only a quantification of envisioned reliability benefits and impacts can justify the rationale for embracing the SG philosophy that relies on anticipated improvement in power system reliability as one of its foundations. Identifying the scope and means to extend/revamp traditional reliability studies in light of the increasing functional interdependencies brought on by inter disciplinary technologies is a key beginning step. Towards this goal, the paper puts forward an architectural composition of SGs from a reliability perspective. Based on this, a qualitative discussion is initiated to identify the foreseeable challenges in quantitative reliability estimation. There is also an imminent need to evolve an integrated framework that can accommodate realistic reliability appraisals that will be useful in decision making processes. A proposal for a potential framework that can be expanded upon in due course of time for a comprehensive reliability evaluation of SGs is then outlined.