The central objective of this reprint is to present the vital factors associated with smart grid systems, reliability assessment, protection methodologies, and design advancements through recent research findings to utility engineers, engineering students, research scholars, and power managers. This reprint includes ten chapters, covering all the prime critical aspects of modern power systems like uncertainty in electricity pricing due to solar or wind systems, distribution system coordination, frequency control challenges due to RE, and artificial intelligence-based protection methodologies. In addition, it also covers the optimization issues and challenges of electric vehicles' integration in the modern grid network.