Advancement in energy technologies are much needed for social and economical enlargement of our society. The sustainable energy resources and development of efficient module is highly required in present power system. Existing power system is designed as a one way traffic system from source to utility. The objective of this paper is to study the evolution of smart grid to enhance the bidirectional flow of power in distribution network. The increasing embodiment of renewable energy sources and new patterns of electricity consumption is making the concept of smart grid complex. Game theory approach has been proposed in smart grid to conflicting the grid secure in global environment and reduces the dependency on power grid. This paper discusses the overview of game theory, Cooperative and non-cooperative game theory. Future opportunities for adopting game theory to develop a smart and intelligent grid are also discussed.
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