Asset Management in Smart Grids: A Review

Asset management (AM) is the process of maximizing the equipment return on investment during its life span and includes the activities to balance the cost, benefit and risk. The advent of smart grid (SG), on the one hand, makes the AM system more complex (due to addition of new devices and technologies to the grid, further need to more reliable network, etc.), and on the other hand, improves the AM performance (by making more data available from the grid). Therefore, understanding the AM system in SGs is essential. In this paper, a comprehensive review of AM in SGs is performed. Different concepts and classifications of AM is presented, SG AM is studied from diverse aspects, its components are identified, and novel and future technologies in this field are described.