Lots of good answers in the replies here, but one more thing to keep in mind is that, when the DC vs AC argument was going on in the late 1800s and early 1900s,

Lots of good answers in the replies here, but one more thing to keep in mind is that, when the DC vs AC argument was going on in the late 1800s and early 1900s, we were still 40 years away from discovering semiconductors. Nowadays, a lot of residential loads at least would probably be more efficient with DC coming into the house with the popularization off brushless DC motors and all the technology around the house.