In September 2010, Dr. Patrick Gallagher, Director of the National Institute of Standards and Technology (NIST), charged the Smart Grid Advisory Committee (SGAC) with providing input to NIST on: (1) the Smart Grid standards, priorities, and gaps, and (2) the overall direction, status, and health of Smart Grid implementation by the Smart Grid industry, including identifying issues and needs. The SGAC formed four subcommittees to address this challenge. Over the ensuing 14 months, the subcommittee members have worked with and interviewed Smart Grid industry stakeholders, including industry associations, companies, and state and federal regulators, to gather, consider, and analyze information and produce this status report. It should be noted that the content and recommendations found in this report are premised on the many industry interviews that were conducted prior to September 2011 and may not reflect discussions, initiatives, activities, or developments that are subsequently taking place within the SGIP or other stakeholder forums. Through its efforts, the SGAC has identified several common emerging themes across the diverse Smart Grid stakeholder landscape.