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A Smart Grid comprises of a broad range of technology solutions that optimize the energy value chain. Depending on where and how a specific utility operates across that chain, it can benefit from deploying certain parts of a Smart Grid solution set. This paper presents opportunities for utilities and consumers to benefit from efficient management of energy, advanced equipment and devices which will wisely improve the nation's energy system. Those regulatory barriers and other challenges to a Smart Grid are discussed. Optimization of the deployment schedule will enhance many benefits of Smart Grid Technology:   Improvements to the power delivery system, Enabling defensive strategies to detect and address problems before they become widespread grid disturbances, Enabling widespread Integration of alternative energy sources and providing a means for mitigating their intermittency, Greatly expanding the connection of end-user loads to grid information and control to facilitate energy efficiency improvements, Providing the necessary information and control to integrate plug-in hybrid electric vehicles into the grid to meet the challenges of the 21st century.