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This article describes the optimization models recently applied to the design and operation of power systems towards forming smart grids and identifies trends, barriers, and possible gaps in this area. Models are described to optimize the design and operation of power systems considering renewable energies, distributed generation, microgrids, demand management, and energy storage systems. It was concluded that it is necessary to validate many of the models formulated recently to optimize thedoi:10.31586/wjeee.2021.010102 fatcat:lmatwbaynva2rfdinlzwulkif4