Distributed Energy Resources (DERs)—including solar photovoltaics, battery storage, electric vehicles, and responsive loads—are proliferating in distribution grids around the world as customers seek greater control over the cost and environmental footprint of their electricity use. At the same time, extreme weather events, natural disasters, and cyber intrusions have brought the resiliency value of these resources into focus. As widespread adoption becomes a reality, utilities face new challenges and opportunities that have the potential to transform the way the distribution grid is managed. What role should utilities play in guiding DER adoption? How should the resiliency benefits of DERs be valued? What lessons can be drawn from regions where DER penetration is already significant?