Although the North American power grid has been recognized as the most important engineering achievement of the 20th century, the modern power grid faces major challenges . Increasingly complex interconnections even at the continent size render prevention of the rare yet catastrophic cascade failures a strenuous concern. Environmental incentives require carefully revisiting how electrical power is generated, transmitted, and consumed, with particular emphasis on the integration of renewable energy resources. Pervasive use of digital technology in grid operation demands resiliency against physical and cyberattacks on the power infrastructure. Enhancing grid efficiency without compromising stability and quality in the face of deregulation is imperative. Soliciting consumer participation and exploring new business opportunities facilitated by the intelligent grid infrastructure hold a great economic potential.