Traditional power grids are being transformed into Smart Grids (SGs) to address the issues in existing power system due to uni-directional information flow, energy wastage, growing energy demand, reliability and security. SGs offer bi-directional energy flow between service providers and consumers, involving power generation, transmission, distribution and utilization systems. SGs employ various devices for the monitoring, analysis and control of the grid, deployed at power plants, distribution centers and in consumers' premises in a very large number. Hence, an SG requires connectivity, automation and the tracking of such devices. This is achieved with the help of Internet of Things (IoT). IoT helps SG systems to support various network functions throughout the generation, transmission, distribution and consumption of energy by incorporating IoT devices (such as sensors, actuators and smart meters), as well as by providing the connectivity, automation and tracking for such devices. In this paper, we provide a comprehensive survey on IoTaided SG systems, which includes the existing architectures, applications and prototypes of IoT-aided SG systems. This survey also highlights the open issues, challenges and future research directions for IoT-aided SG systems. energy in accordance with the needs of the consumers within the constraints of power systems. Nearly, all the generation, transmission and distribution of electrical energy is owned by the utility companies who provide electrical energy to consumers and bill them accordingly to recover their costs and earn profit.The traditional power grid worked very well from its inception in 1870 until 1970 [1]. Even though the consumers' demand for energy grew exponentially, it was still rather predictable. However, there has been a dramatic change in the nature of electrical energy consumption since 1970, as the load of electronic devices has become the fastest growing element of the total electricity demand and new sources of high electricity consumption have been developed, such as Electric Vehicles (EVs). The power grids endure a significant wastage of energy due to a number of factors, such as consumers' inefficient appliances and lack of smart technology, inefficient routing and dispensation of electrical energy, unreliable communication and monitoring, and most importantly, lack of a mechanism to store the generated electrical energy [2]- [4]. Furthermore, power grids face some other challenges as well, including growing energy demand, reliability, security, emerging renewable energy sources and aging infrastructure problems to name a few.In order to solve these challenges, the Smart Grid (SG) paradigm has appeared as a promising solution with a variety of information and communication technologies. Such technologies can improve the effectiveness, efficiency, reliability, security, sustainability, stability and scalability of the traditional power grid [5]. SG differs from traditional power grids in many aspects. For instance, SG offers a bi-directional communicat...