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This SpringerBrief explores the opportunities and challenges posed by the smart grid. The evolution of the smart grid should allow consumers to directly communicate with their utility provider. However, complex issues such as architecture with legacy support, varying demand response and load management, varying price of power, and so forth can lead to various decision making challenges.

It is essential to identify the scope and challenges of the smart grid in a comprehensive manner so as to ensure efficient delivery of sustainable, economic, and secure electricity supplies. This...