At the present stage of development of the world economy and almost all countries’ national economies, the problem of energy saving and energy efficiency rises. In developed countries, the solution to this problem depends not only on reducing energy consumption but also on the introduction of new innovative processes in power supply systems and energy systems. In particular, there is a growing interest in the modernization of energy systems in the world in recent years based on a new concept called Smart Grid ("intelligent power system"). The problem of energy efficiency is especially relevant for Ukraine, which has the highest value of energy intensity of gross domestic product, and the country's energy system is characterized by extremely high losses of electricity in the grid. The largest consumers of electricity in Ukraine are large industrial enterprises, where the high energy intensity of production is caused by the depreciation of fixed assets; lack of incentives to implement energy efficiency measures and of a systematic approach to energy consumption; lack of financial resources for the implementation of energy efficiency measures. Issues of identifying the problems of energy efficiency of the economy and ways to solve them are set out in the scientific works of such researchers as S. M. Baliuta, O. S. Bykonia, A. Yu. Danilkova, Ya. V. Krutohorskyi, O. O. Liakhova, Yu. T. Matvieieva, H. H. Pivniak, S. V. Sapozhnikov, O. V. Fedirets, V. O. Shvedun. Without diminishing the results of the previous research, it should be noted that a number of problematic issues on this topic are still studied insufficiently, which determines the relevance of the research topic. The aim of this research is to assess energy efficiency as a factor of the competitiveness of Ukraine's industrial products, justify the main reasons for the high energy intensity of GDP in Ukraine, and the necessity of innovative direction for the future development of energy through the implementation of "smart grids". Analysis of the energy sector’s current state and development has shown that the problems in the power industry today can not be solved only by extensive capacity-building of grids and increasing the number of electrical equipment. A new direction in the future development of energy is the implementation of smart grids ("Smart Grid"). The domestic national economy has problems with energy efficiency and energy saving. The solution to these problems lies in the field of implementing energy management and audit, studying and using foreign experience in the development of intelligent energy.