If we had the means to accurately predict the effects of a particular solar mass ejection, then we could pre-emptively disconnect the vulnerable equipment to protect it.
Yes, that would mean intentionally taking the whole electrical grid down for a short period of time. But, that is better than taking it down for a year - especially without any warning or preplanning.
With pre-planning, and development and deployment of the necessary backup devices and measures, we should be able to "weather" something like the Carrington Event mass ejection. But, we need to determine in advance what devices need to be disconnected/shut down to protect them and what devices can be used during the event without destroying them.
Further, we also need to be able to determine the magnetic orientation of the plasma coming at us to predict whether we need to take the protective actions. That is a problem. Currently, we rely on the satellites that we have always between Earth and the Sun at the L1 LaGrange Point. But, that is not far enough away to give us the amount of lead time we would like to prepare for impact. But, there is no other stable orbit location farther from Earth that is always between us and the Sun. And, it is out of the question that we could launch a probe directly at the Sun from Earth that could travel fast enough to give us more lead time - the solar material is traveling so fast that our probe would not even get to the LaGrange Point before the plasma can get there from the Sun.
So, we need some sort of remote sensing capability to determine the orientation of the magnetic field of the plasma promptly after it is ejected from the Sun. Do we have any ideas about how that could be done?