This report from the Galvin Electricity Initiative examines the state of the electricity infrastructure in the United States. It is highly critical of antiquated equipment, power quality, wasted energy, and lack of incentives to innovate because of monopoly regulations. The report traces the history of DC electricity developed by Thomas Edison and AC from Nikola Tesla. He compares both to microgrids with distributed generation including local generation with excess sold to the utility. Proposals for reforming the electricity industry are presented.