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This paper describes approaches to determine metrics, costs, and benefits from Smart Grid field projects including the 140 Smart Grid Investment Grants and Smart Grid Demonstration Projects funded by the U.S. Department of Energy (DOE) through the American Recovery and Reinvestment Act. The paper describes DOE's metrics and benefits framework that links Smart Grid technologies with their applications and the benefits that result from those applications. Benefits are derived by comparison of grid performance before and after installation and operation of Smart Grid components. These benefits are accrued to utilities/ratepayers, consumers, and society. There are significant challenges in attempting to collect field information and convert the information to metrics, costs, and benefits. For example, determining the monetary value of performance benefits such as reduced environmental emissions, reduced outages, and reduced peak load requires assumptions based on experience and must be rooted in solid technical and financial bases.