Smart solid state transformers are far more effective devices with a number of advantages. The first and most important one is that they are energy efficient. This means that they can deliver much more power through similar wires at a faster rate. It is estimated that their power transmission capability is 10 times greater than the traditional transformers. Moreover, these transformers have the ability to deliver diverse power like 400 Hz services, 3 phase power and DC service through a single phase line. Not only this, but the power quality is also much refined. This is achieved by inaugurating Sag correction and harmonic filtering setups in this device. Another major advantage is that it is cost-effective. Since the transformer can be used in different configurations, so there ought to be less parts and inventory. With lesser number of parts, both the costs of manufacturing and maintenance are reduced. Last but not the least, this device is environmental friendly. There are no perilous liquid dielectrics or hazardous elements in it. However, there is a major hurdle or disadvantage that has hindered its large scale.