The normal operation of a power grid largely depends on the effective monitoring and maintenance of transmission lines, which is a process that has many challenges. The traditional method of the manual or remote inspection of transmission lines is time-consuming, laborious, and inefficient. To address this problem, a novel method has been proposed for the Multi-Robot Cyber Physical System (MRCPS) of a power grid based on inspection robots, a wireless sensor network (WSN), and multi-agent theory to achieve a low-cost, efficient, fault-tolerant, and remote monitoring of power grids. For the sake of an effective monitoring system for smart grids, the very research is conducted focusing on designing a methodology that will realize the efficient, fault-tolerant, and financial balance of a multi-robot team for monitoring transmission lines. Multiple testing scenarios are performed, in which various aspects are explored so as to determine the optimal parameters balancing team performance and financial cost. Furthermore, multi-robot team communication and navigation control in smart grid environments are introduced.