The smart grid makes use of technology advancement and computer monitoring to optimize energy use. Intermitting energy sources (e.g., when solar and wind power are available to the same grid) makes it possible to ensure a continuous supply of electricity any time of the day. Moreover, monitoring demands and its peak hours, it is possible to create dynamic pricing tariffs, which would encourage electricity usage when there is more of it available, to re-distribute the demand more evenly.
Systems monitoring power supply in real time can easily spot which areas require some repair and reroute electricity from other location to make sure no household suffers a power outage. Already now, most of the solar panels installed for private use come with smart systems which show consumption, generation of power, savings, and other statistics. You can easily monitor your electricity use and make adjustment seeing the data with your own eyes in real time.
Many countries have already committed to or invest in the implementation of smart grids, including developing ones. More investment needs to be made in building these electricity highways to connect all the people to electricity and ensure its flow is uninterrupted. Here is when we need more involvement from the government in countries which take these works slower, to accelerate the progress.