http://www.npr.org/templates/story/story.php?storyId=103415232"The push is on to make the nation's aging electricity grid smarter, so it can handle growing demand for electricity. Many assume that a smart grid will also be a green grid — delivering clean electricity and helping to address climate change. But that's not necessarily so.
Giving the grid a brain doesn't necessarily mean it will make green decisions. Likewise, the big push to expand the electric grid into areas rich in renewable energy doesn't guarantee that the new, improved grid will be more climate-friendly."
Much more at the above link.
I think they make a good point when they ask where electricity will come from if smart grids encourage us to use electricity at night at off-peak hours. Without some form of storage for electricity generated from sun and wind power during the day (and that storage may yet come), we may see more coal being burned at night.