A smart grid is an electrical grid which includes a variety of operation and energy measures including:
ADVANCED metering infrastructure (of which smart meters are a generic name for any utility side device even if it is more capable e.g. a fiber optic router)
SMART distribution boards and circuit breakers integrated with home control and demand response (behind the meter from a utility perspective)
LOAD control switches and smart appliances, often financed by efficiency gains on municipal programs (e.g. PACE financing)
RENEWABLE energy resources, including the capacity to charge parked (electric vehicle) batteries or larger arrays of batteries recycled from these, or other energy storage.
ENERGY efficient resources
SUFFICIENT utility grade fiber broadband to connect and monitor the above, with wireless as a backup. Sufficient spare if "dark" capacity to ensure failover, often leased for revenue..
