 The electricity industry is going through a revolutionary period unlike anything it's been seen for the last hundred years plus. Generation technologies are changing dramatically with solar and wind becoming cheaper and cheaper. But the electricity grid that we have today was never designed for the volatility that solar and wind have, solar and wind fluctuate. On the other side of the grid, on the consumption side, we see volatility as well. The electrification of homes is growing dramatically. Electric vehicles, just imagine that half the vehicles are electrified on the highways around California. The goal of Bits and Watts is to enable and foster innovations for the 21st century grid. Bits is for data and of course Watts is for electrical power. The digital world has a big role to play in connecting the dots between the volatility on the generation side and on the demand side and to provide stability. But this is not just a technical problem. We need innovations and policies in regulation. Many different disciplines from across campus have something to contribute to solving this problem of restructuring the grid. The engineering school, the business school, market design. All come together to then enable our stakeholders, the electricity industry, our regulators, the government to shape the grid of the future.