The rising load demands in industrial, commercial, and residential levels is the order of primary concern for Distribution System Operators (DSO). Therefore, advanced energy-efficient technologies such as Conservation Voltage Reduction (CVR) are considered to reduce the substation demand by regulating the voltage in a lower voltage regulation range (120-114)V. The ANSI voltage limits of end-user customer are maintained by incorporating PV's in the distribution network. This study aims to attain higher substation demand reduction. Therefore, smart PV inverter Volt- VAr control has been incorporated. Time series simulation has been performed in an OpenDSS environment for the daily load demands of various customers. IEEE-13 node three-phase radial unbalanced distribution network is taken for study purpose along with voltage-dependent load model. The significance of this work has been proved by a comparative analysis of various case studies to analyze the impact of CVR in combination with a smart PV inverter.