Smart Water Resource Management Conservation and Efficiency Act of 2014

Smart Water Resource Management Conservation and Efficiency Act of 2014 - Directs the Secretary of Energy (DOE) to establish and carry out a smart water resource management pilot program to award grants to three to five eligible entities (authorities that provide water, wastewater, or water reuse services) to demonstrate novel and innovative technology-based solutions that will: (1) increase the energy and water efficiency of water, wastewater, and water reuse systems; (2) improve such systems to help communities make significant progress in conserving water, saving energy, and reducing costs; and (3) support the implementation of innovative processes and the installation of advanced automated systems that provide real-time data on energy and water. Directs the Secretary, in selecting grant recipients, to consider: energy and cost savings; the novelty of the technology to be used; the degree to which the project integrates next-generation sensors, software, analytics, and management tools; the anticipated cost-effectiveness of the pilot project in terms of energy efficiency savings, water savings or reuse, and infrastructure costs averted; whether the technology can be deployed in a variety of geographic regions and the degree to which the technology can be implemented on a smaller or larger scale; and whether the project will be completed in five years or less. Requires the Secretary to evaluate, annually, each project for which a grant is provided and make best practices identified available to the public.