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The involvement of smart grid in home and building automation systems has led to the development of diverse standards for interoperable products to control appliances, lighting, energy management and security. Smart grid enables a user to control the energy usage according to the price and demand. These standards have been developed in parallel by different organizations, which are either open or proprietary. It is necessary to arrange these standards in such a way that it is easier for potential readers to easily understand and select a suitable standard according to their functionalities without going into the depth of each standard. In this paper, we review the main smart grid standards proposed by different organizations for home and building automation in terms of different function fields. In addition, we evaluate the scope of interoperability, benefits and drawbacks of the standard.