Final answer:
A smart grid, or microgrid, is a modernization of the electricity delivery system that allows for two-way communication between the utility company and the consumer.
Step-by-step explanation:
A smart grid, or microgrid, is a modernization of the electricity delivery system that allows for two-way communication, unlike the traditional grid which allows only one-way energy flow. This means that with a smart grid, both energy can be supplied from the utility company to the consumer, and energy can also be supplied back to the utility company from the consumer. This two-way communication allows for better management of electricity distribution and increased efficiency.