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Smart grid is an idea of upgradation of the traditional electric grid infrastructure. The efficiency of the existing electrical grid can be automated by integrating with innovative technical equipment such as: high-tech forecasting system, digital sensors, advanced two-way communication and two-way power flow systems. Smart grid establishes an interface between utility and consumer which helps to use energy, based on the preferences of price, eco-friendly and without technical system issues. It empowers the grid to be more secure, reliable and efficient. The peer-reviewed articles and published government reports have been reviewed, based on the analysis of technical characteristics of power generation systems, eco-friendly sources of power generations, cost reduction, functionality and design of traditional grid versus smart grid. Furthermore, the innovative technologies that enable the grid to integrate with decentralized power generation system efficiently have been considered. This paper claims that in this modern era, it is arduous for traditional grid to fulfill the rising demand of electricity, along with sustainable, eco-friendly and stable power supply, as it cannot be efficiently integrated with decentralized and localized power generation systems and renewable energy sources. The result of this paper shows that decentralized and localized power generation systems are located close to end-users which decrease the transmission and supply cost of electricity. Innovative technologies allow the decentralized and localized power generation systems to be integrated with renewable energy sources which help to reduce the cost of utility services and provide clean energy. Moreover, technological advancement played a decisive role in enabling the electrical system to be more efficient. Electrical reliability can be improved, greenhouse gas emissions can be reduced, renewable energy sources can efficiently be integrated, and rising demand for electricity can be met by embedding advanced applications and ...

The main objective of this paper is to develop a readiness index model that can serve as an analytical tool for exploring the achievements of electrification of transportation systems. We have applied this readiness index model to evaluate the readiness positioning of China, Norway, and Sweden towards transport electrification. We have chosen these three countries as they represent diversity among countries that are in the process of adopting electrified transport system solutions. Our developed readiness index model has four key dimensions, technological readiness, political readiness, societal readiness, and economic readiness. The embeddedness of all four dimensions in one model provides a multi-perspective way of analyzing and evaluating the readiness levels of countries moving towards transforming the transportation system. Therefore, we named the model a"multidimensional readiness index." Our main conclusions are that the political processes and political decisiveness involved are the most important factors followed by the societal needs and economic ability, with the current technology available as the fourth. Without the participation of dedicated and determined political decision-makers being involved, the other three factors are challenging to obtain. Political decision-makers need to facilitate the use of economic means to support the transformation in the society and affected industries to balance the initial economic disadvantages of the electrically-powered systems until they pass the cost disadvantage turning point. The development of the relevant technology is no longer a great barrier as it was at the beginning of this transformation, about 20 years ago. The technology for electrically powered transportation systems and devices is widely available now, although it is continuously evolving and being improved. Associated industries cannot be expected to initiate, finance, take the risk, and take the lead in this global societal transformation without clear and strong political support. Based on ...

The main objective of this paper is to develop a readiness index model that can serve as an analytical tool for exploring the achievements of electrification of transportation systems. We have applied this readiness index model to evaluate the readiness positioning of China, Norway, and Sweden towards transport electrification. We have chosen these three countries as they represent diversity among countries that are in the process of adopting electrified transport system solutions. Our developed readiness index model has four key dimensions, technological readiness, political readiness, societal readiness, and economic readiness. The embeddedness of all four dimensions in one model provides a multi-perspective way of analyzing and evaluating the readiness levels of countries moving towards transforming the transportation system. Therefore, we named the model a"multidimensional readiness index."