Smart Grid: The Basics - What? Why? Who? and How?

The electric power industry is poised for an unprecedented change in the way it operates. Motivated by forecasted changes in its generation profile, including a greater use of renewable sources, the power industry is looking to create a more interactive relationship with its consumers. Since the industrial community consumes about one third of all generated power, this sector is expected to play a major role in the transition. To help decipher the upcoming changes we will attempt to answer the following questions: What is a smart grid? Why is it being created? Who stands to benefit? and How does one participate?