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Recently, smart grid has been received considerable attention for the future power system development. Many advanced wireless technologies are being investigated to be used for the communication layer of smart grid. Among of those, TV band devices (TVBDs) are newly introduced as an appropriate technology for the management and coordination of power consumption. By applying TVBDs for smart meter, two-way communication between electric supplier devices and end-consumer devices becomes reality which effectively increases not only energy efficiency but also spectrum utilization performance. However, both power consumption levels and available TV spectrum vary from place to place, and any increase in spectrum efficiency will result in an undesirable increase in power consumption. To this end, Cognitive Radio (CR) functions based on different multi-objective genetic algorithms are proposed in this paper to finding out the trade-off between power efficiency and spectrum efficiency in different operating environments.