Probabilistic methods applied in power and smart grids

Abstract

System level assessments in a smart grid require a probabilistic approach in order to better reflect the likelihood of uncertainties and their impacts. Applications of probabilistic approaches are not new to the traditional power grid however their need and advances are increased in smart grids with the involvement of smart elements in the physical layer of the smart grid and the cyber network interaction. This chapter presents a detailed investigation on the probabilistic methods applied in a traditional power grid and their intended extensions in a smart grid. The chapter explores wider avenues of probabilistic researches ranging from steady state to the dynamic state.