This report, approved at the June 2017 meeting of the Electricity Advisory Committee, consists of EAC observations regarding the national importance of conducting research on the electric power grid. It also reports on the special characteristics and uniqueness of grid research, as well as further recommendations that supplement the goals outline in the Multi Year Project Plan (MYPP). Grid modernization research and development in the U.S. is critical to retain leadership in the global market, as other countries like China and India are rapidly increasing their investments.