Smart Grid is a way of providing bidirectional energy flow with the integration of latest communication technologies and advanced control methods to overcome the issues associated with the current power grid such as unidirectional power flow, resource wastage, reliability, security, enhanced quality, and increasing demand of energy. Integrating Internet of Things (IoTs) makes Smart Grid hyperaware and agile to enhance the efficiency, reliability, and sustainability of electricity distribution. IoT‐enabled Smart Grids use IoT devices and sensors to collect real‐time data, allowing for automated monitoring, predictive maintenance, and better demand management. This study comprehensively reviews various wireless technologies for IoT‐enabled Smart Grids that could be integrated into home area networks (HANs), neighborhood area networks (NANs), and wide‐area networks (WANs). This work provides a comparison of wireless technologies for HANs, NANs, and WANs in terms of data rates, range, adaptability, internet protocol support, and various other parameters. IoT technologies, including ZigBee, Z‐wave, Bluetooth, Wi‐Fi, NFC, 6LoWPAN, wireless HART, and Thread, are suggested for operations in HANs according to the customer requirements with their operating characteristics. Similarly, for NANs and WANs, long‐term evolution (LTE), WiMax, and LPWAN are explored in terms of requirements of utilities. The study further analyzes the applications of IoT‐enabled Smart Grids and elaborates on the associated challenges and issues.