A smart grid is an electricity network that allows devices to communicate between providers and consumers to control demand, safeguard the distribution network, save energy, and save money. It is a digitally-based electrical network that uses two-way digital communication to supply electricity to users. This system enables for supply chain monitoring, analysis, control, and communication in order to improve efficiency, lower energy consumption and costs, and increase the energy supply chain's transparency and reliability.
Grid modernization has become a catch-all term for the improvements required in the power grid to handle all of the rapid technical advances occurring in electric power generation, transmission, and distribution.
When the continuous and discrete meet, hybrid systems arise. A hybrid system combines continuous and discrete inputs, outputs, states, or dynamics. Hybrid systems are formed when continuous physical processes are governed by finite-state logic (as in embedded control systems) or when topological and network limitations interact with continuous control (as in networked control systems).