The first dynamic voltage restorer (DVR) was introduced in 1994 as a result of collaborative effort between Westinghouse (presently Siemens), EPRI, and Duke Power. The dynamic voltage restorer's application has been already demonstrated and is extensively reported, much of the research on DVRs has focused on dc link-based voltage source converters (VSC). These converters have evolved rapidly in the field of industrial AC motor drives. Thus, the importance of the DVR is well recognized. This paper deals with applications related to voltage compensation in order to satisfy the future smart grid's standards.