The NSF-sponsored FREEDM Engineering Research Center (ERC) is developing a revolutionary smart distribution grid, which will facilitate seamless integration of distributed renewable power generation and storage resources. The major component of the grid is a 12.47kV loop that is divided into sections. Each section is terminated by an electronic circuit breaker. The loads within the section are supplied by solid-state transformer, whose function is to rectify the 60Hz AC voltage and covert it to high frequency AC voltage. A high frequency transformer reduces the voltage, which is corrected to obtain 400V DC. This voltage will then supply the distributed generation and storage capabilities. The 400V DC will be converted to 240V/120V AC voltage, which will supply the local loads. The major components of the generation and storage system are in advanced stage of development. This panel paper describes the system and the developed components, together with the computer control of the system.