This dissertation develops advanced techno-economic, environmental, and asset-management methods to evaluate and guide the adoption of emerging grid technologies. A modular techno-economic analysis framework extends conventional device-level assessments by incorporating power-system simulation, with case studies showing consistent cost and performance benefits of medium voltage DC architectures. A life-cycle assessment procedure quantifies cradle-to-grave emissions, demonstrating that supercritical CO2–based circuit breakers can substantially reduce environmental impact relative to SF6 ones. To inform optimal upgrade timing, two asset-management frameworks are introduced: a two-stage framework that integrates life-cycle cost analysis with system-level optimization, and an condition-aware approach using a multi-action RMAB formulation for managing large fleets under uncertainties. Together, these methods provide a valuable decision-support toolkit for identifying cost-effective, low-emission, and scalable pathways for integrating emerging technologies into future grids.