The momentum for realizing the “smart grid” vision has
increased recently due to policy and regulatory initiatives for
advancing and deploying relevant technologies as exemplified
by [1]–[4]. These initiatives can be categorized into five trends:
reliability, renewable resources, demand response, electric
storage, and electric transportation. These trends are also
recognized by the Federal Energy Regulatory Commission
(FERC) [1] and recent funding by the U.S. Department of
Energy (DOE) [5].