ABSTRACT
High-quality electricity is a necessity in the modern world, due to the innumerable applications demanding quality power, such as electronic manufacturing, microprocessors, and many sensitive devices being used by common man. In a traditional power system, centralized generating stations generate bulk power which is transmitted to the consumers through a one-way transmission and distribution system called the grid. A smart grid delivers electricity from suppliers to consumers using digital technology to save energy, reduce costs, and increase reliability. It connects everyone to abundant, affordable, clean, efficient, and reliable electric power anytime, anywhere, providing a way of addressing energy independence and global warming issues. Asset optimization includes proactive equipment maintenance via equipment condition monitoring and produces a lot of advantages for the power industry. Focused maintenance can be done on equipment, and asset optimization will definitely reduce outages and risks of failure as the assets are monitored and assessed continuously.
