The digitization of the grid is becoming a reality. This transformation has raised various challenges on hardware, controls, communication, and operation. The massive amount of data generated by smart-grid technology can create a practical problem and a reliable infrastructure is required to ensure an uninterrupted operation of smart grid subsystems. Grid modernization is facing a wave of effort to target and to advance every aspect of the smart grid. With the fast paced technology development, the need for intensive resources for smart grid research arises. This paper is intended as a compilation of smart grid research that attracts researchers. State of the art technologies and future trends in smart grid research are discussed within the scope of communications and computing. Challenges of the grid modernization process are tiered and discussed. Sample research efforts have been included for various research paths.