There is a lot of cool innovation related to the smart grid. And it is sorely needed because our current electrical grid barely uses IT, or any of the smart ideas that start-up companies have come up with. Of course, in 2001 the National Academy of Engineering famously declared the electrical grid “the single most important engineering achievement of the 20th century,” and yet in 2012 it already seems clunky. The losses in the system are immense, and we keep huge amounts of power on standby all year for a few hours of heatwave in the summer. We have difficulties integrating renewable energy, and very few end consumers have a clue what they are paying for.