The document discusses smart grid technology, defining it as adding computer and communications technology to existing electricity grids to make them more efficient, reliable, and able to integrate more renewable energy sources. Key components of a smart grid include sensing and measurement technologies like smart meters, as well as transmission and distribution networks using technologies like fiber, wireless, and power line communication. Benefits include improved reliability, efficiency, and ability to reduce costs and greenhouse gas emissions through features allowing better demand response and integration of solar/wind power. Barriers to fully implementing smart grids include high initial costs, lack of standards, and uncertain consumer acceptance.