'Smart grid technology' refers to an advanced electrical grid system that utilizes digital communication and smart technologies to optimize the production, distribution, and consumption of electricity. It facilitates real-time monitoring and control of energy flows, enabling efficient load balancing and responsive demand management. Smart grid technology incorporates renewable energy, enhances grid reliability, and reduces outages. Additionally, it empowers consumers with information about their energy usage, encouraging energy-saving behaviors. By integrating advanced analytics, smart grids promote sustainability and efficiency within energy management.