A key solution in response to the challenge of economical harvesting of electrical energy and considering the environmental issues, could be to integrate more and more distributed generators (DGs) and renewable energy sources (RESs) in the electric network. An idea towards stability and dynamic performance enhancement of a grid with numerous distributed DGs/RESs is to compensate system inertia and weak dynamics, virtually. This may be established by a primary power source (e.g., DG or an energy storage) together with a smart controlled power electronics converter. This setup will then operate to emulate desirable dynamics, such as inertia, droop, and damping properties, by flexible shaping of its output active and reactive powers. This approach provides a promising solution to improve power grid stability and performance in the presence of a high penetration of DGs/RESs. In this speech, recent advances on power grid dynamics shaping using controlled grid-connected power converters will be emphasized.