A review on peak shaving techniques for smart grids.

Peak shaving techniques have become increasingly important for managing peak demand and improving the reliability, efficiency, and resilience of modern power systems. In this review paper, we examine different peak shaving strategies for smart grids, including battery energy storage systems, nuclear and battery storage power plants, hybrid energy storage systems, photovoltaic system installations, the real-time scheduling of household appliances, repurposed electric vehicle batteries, uni- and bi-directional electric vehicle charging, the demand response, the time-of-use pricing, load shedding systems, distributed generation systems and energy-efficient management. We analyze the potential of each strategy to reduce peak demand and shift energy consumption to off-peak hours, as well as identify the key themes critical to the success of peak shaving for smart grids, including effective coordination and communication, data analytics and predictive modeling and clear policy and regulatory frameworks. Our review highlights the diverse range of innovative technologies and techniques available to utilities and power system operators and it emphasizes the need for continued research and development in emerging areas such as blockchain technology and artificial intelligence. Overall, the implementation of peak shaving strategies represents a significant step toward a more sustainable, reliable and efficient power system. By leveraging the latest technologies and techniques available, utilities and power system operators can better manage peak demand, integrate renewable energy sources, and create a more reliable and secure grid for the future. By discussing cutting-edge technologies and methods to effectively manage peak demand and incorporate renewable energy sources, this review paper emphasizes the significance of peak shaving strategies for smart grids as a crucial pathway towards realizing a more sustainable, dependable and efficient power system. [ABSTRACT FROM AUTHOR]