In view of the current situation of smart grid development, this paper analyses the difficulties faced by smart grid construction, and puts forward that the ultra-reliable and low-delay characteristics of URLLC technology can reduce the delay of smart grid, increase its reliability, and provide support for the construction of UHV grid. In addition, by analyzing the channel polarization of Polar coding and comparing with other coding methods, a more suitable decoding method for Polar coding in smart grid, namely distributed CRC-Polar code, is summarized. This scheme can not only reduce the downlink channel delay, but also increase the reliability of URLLC technology, which has certain reference value.