Cooperative Study Group on Standard Model Development for Power Electronics Simulations, created under the Industry Applications Society of the IEEJ (Institute of Electrical Engineers of Japan), is active to develop standard models for simulations related to power electronics. Under the study group, four working groups (WGs) have been created for different fields of simulation. Among them, Smart Grid WG is developing standard simulation models of components which will form smart grids in the near future. As the government of Japan assumes, a large portion of renewable energy will be provided by photovoltaic (PV) generation systems installed at ordinary houses, buildings and solar farms, all of which are connected to distribution lines. This implies that smart grids in Japan will be established at the distribution and the end-consumer level. Therefore, the components for which the Smart Grid WG is developing standard models include distribution substations, distribution lines, voltage regulation equipment, pole-mounted transformers, PV panels, Li-ion batteries, power conditioning systems, and micro and small wind power generation systems. This paper presents these standard models and also future development plan for those which are still under development at this moment.