Analysis of Risks and Challenges Involved in Smart Grids and Possible Solutions

As more and more cities and infrastructures are developed, the need for low-cost electricity has become the demand for all to have all sorts of devices functional at all sorts of lands, a flexible and more accommodating electrical grid is the solution to problems of all. In order to achieve self-healing capabilities and enhanced operational management, it is imperative to convert the traditional electric grid into smart grids by integrating Internet of Things (IoT) and Information and Communication Technologies (ICT). These grids are advancing by integrating conventional electrical power systems with Internet of Things (IoT) and Information and Communication Technology (ICT), resulting in the creation of more intelligent and efficient grids. By empowering all users and controllers and improving efficiencies and availability of power systems with synchronized monitoring, controlling, and management of customer demands. In addition to being cost-effective, smart grids must be reliable, scalable, secure, interoperable, and properly manageable. Millions of devices and entities are connected in an extremely large complex network to form a smart grid. Using these networks along with IOT and ICT poses great concerns regarding security and vulnerabilities. In this paper, issues related to securities and vulnerabilities are discussed along with certain solutions to these problems.