Smart structures typically consist of many interacting components, which result in a closed loop formed by an actuator, structure, sensors, controller, and drive circuit components. Despite the recognition of component interactions, much of the traditional design approach for such systems is highly compartmentalized and sequential. The primary objective of the present work is to develop a basic understanding of the energy flow and dynamic interaction between the electrical and mechanical subsystems of smart actuators. When operating from portable power sources, a crucial factor in determining the performance of such a smart system is the battery capacity required for the actuator to operate through a given time span along with its life time. The real and reactive power in such a system will determine the battery life and size separately. While the real power is dissipated only in the drive circuit, the reactive power of the circuit and the actuator cannot be calculated individually, where the interaction arises. Multi-objective function optimization problem, which combines the real and reactive power by different weights, will result in a better balanced solution than optimizing either one of them separately. Genetic algorithm is applied for discrete component selection to generate more realistic designs. The optimization result is illustrated in the paper, as well as their relationship with multi-objective functions.