On the profit enhancement and state estimation services in the smart grid

New services and tools are emerging for advanced operation of next generation power grid. In this paper we introduce two of these services that can improve the operation of a power grid with distributed energy resources. Firstly, we explored the benefits of employing optimization approaches to enhance the profit of a power system that includes a Photovoltaic park, Wind Energy Plant, and Combined Heat and Power unit to serve a number of houses. Secondly, we explored the potential of utilizing the Phasor Measurement Units for state estimation issues.We presented the potential of applying these services in the next generation power grid and then we discuss the challenges and requirements with respect to communications in order to integrate these services in the power grid.