With the world suffering from energy crisis, Smart Grid is the expanding research topic that deals vigorously with the current problems. It promotes decentralized renewable energy generation system, participate many local energy producers to energy market, adds vehicle to grid (V2G), minimize the energy loss in the electrical system, and participate many active consumers to the real market. It is an emerging project that needs an expert from many fields, thus it opens door of opportunities for many people around the globe. The present work deals with the communication scenario in smart grid. Communication is the backbone of Smart Grid and the work tries to highlight the available communication technologies for smart grid application. Theworkdiscuss most profitable communication technologies used for this purpose which are power line communication and wireless communication, in which power line communication aspects and characteristics are covered more than wireless communication for its use are seen more in upcoming days. In all theworkwill outline the opportunities and challenges of power line communication and wireless communication for smart grid application.