Purpose of Review <p>Utilities and regulators must weigh the benefits of electricity resilience projects against their costs, which would be passed on to customers. Cost-benefit analysis (CBA) is an appropriate method for assessing this tradeoff. In this paper we review the literature on CBA of electricity resilience projects and analyze gaps in the available methods and tools.</p> Recent Findings <p>The costs of resilience projects are typically straightforward to estimate but their benefits — particularly the avoided costs of power interruptions — are complex to quantify and monetize. A common perception among practitioners is that current CBA tools are not sufficiently mature to be adopted into real-world practice.</p> Summary <p>We propose an electricity resilience CBA framework consisting of several elements: risks, physical impacts, power interruptions, economic impacts, and resilience projects. While methods for some elements are well-developed, there is a need for novel approaches to value avoided power interruptions, integrate multiple risks and benefit streams, and incorporate uncertainty.</p>