ENDORSEMENTS ." . . the most thorough discussion on Smart Grid currently available." -- Calvin Timmerman, Assistant Executive Director, Maryland Public Service Commission. " . . . a much needed contribution to the smart grid body of knowledge." - Jesse Berst, Founding Editor, Smart Grid News " . . . an excellent explanation for non-technical readers of the new functionalities of modern grids." good reference source for a variety of stakeholders" -- Eric Ackerman, Director Alternative Regulation, Edison Electric Institute. " . . . a balanced perspective that will serve all levels of smart grid experience, from novice to veteran." -- Dan Johnson, Chief, Planning and Market Analysis, Public Utilities Commission of Ohio. " . . . a must read for consumer advocates and students of engineering, law, policy, urban planning, and economics." - Stacia Harper, Director Regulatory Affairs, Ohio Partners for Affordable Energy " . . . a must read for anyone who cares about energy " -- Patty Durand, Executive Director, Smart Grid Consumer Collaborative SUMMARY Utilities around the world are making or planning massive investments to bring distribution grids into the information age. Simultaneously, customers and communities are poised to place increasing demands on distribution grids and utilities in the face of mounting technical, weather, and cybersecurity challenges. "Smart Grid Hype and Reality" asks provocative questions about massive grid investments in light of the demands and challenges, and presents definitive research on smart grid capabilities, costs, benefits, drivers, and limiters in typical and ideal case scenarios. It is designed to help utilities, regulators, customers, and other stakeholders understand available technologies and the industry systems - utility, customer, and regulatory/governance - that ultimately determine the value delivered by distribution grids and utilities. Leaders (community, regulatory, utility) can use this information to anticipate the type of grids and utilities needed to meet society's future needs, and develop the technical, organizational, market, and compensation plans most likely to help them realize their visions. ABOUT THE AUTHOR Paul Alvarez is the President of the Wired Group, a consultancy helping clients unleash the latent value in distribution utility businesses. His perspectives have been formed by 15 years in the industry as both utility insider and consultant to industry regulators, associations, and suppliers. He has led comprehensive, unbiased evaluations of large smart grid deployments, including Boulder, Colorado for Xcel Energy and Cincinnati, Ohio for that state's Public Utilities Commission. He is an adjunct professor at the University of Colorado's Global Energy Management Program and Michigan State University's Institute for Public Utilities. He holds a bachelor's degree from Indiana University's Kelley School of Business and a master's degree in Management from the Kellogg School at Northwestern University.