Modern systems' needs may be satisfied by smart grid technologies. Since we frequently struggle to effectively manage security, the smart grid's capacity is frequently underutilized. Despite the fact that a variety of solutions have been offered for securing the smart grid, the problem still exists that no single solution can entirely protect the environment. We provide a protection architecture for the IoT-connected smart grid. The proposed framework to secure IoT devices for the smart grid includes three complementary approaches. By conducting a rigorous comparative analysis of our proposed solution alongside four existing models, we contribute to the ongoing discourse on bolstering the security infrastructure of the smart grid IoT environment. Our optimized evaluation provides valuable insights into the strengths, weaknesses, and unique attributes of each model, offering a comprehensive understanding of their respective applicability and efficacy within the intricate realm of sensor-based applications. Two testing configurations were used to evaluate the Threat Mitigation Framework. It demonstrated superior performance in recognizing attacks like XSS across all testing configurations. In each of the two test sets, we also assessed the device management functions, and we found that they accurately recognized and presented IoT for the smart grid controller.