I have never heard of terms such as high-grade or low-grade energy, haha. It is not useful for unit 3/4 as far as I know, so this topic isn't really that important.
From Chemistry, efficiency measures how much energy is lost to the surroundings given the input, or rather, how much energy is not used for the purpose of the [whatever]. For that, electric motors are very efficient (go electromagnetism!), but combustion motors only run at about 25% efficiency. Batteries (galvanic cells) are very efficient (somewhere in the 90%), and fuel cells are lower down (about 60%), and burning fossil fuels for electricity generation has an overall efficiency of roughly 30%.
The key thing is how much of the input energy goes towards the [whatever]'s function. For an electric heater, its function is to heat water, and so a highly resistive coil is used which dissipates electric energy as heat. If tungsten wire (light globe) was used, despite some heat being emitted and more "high grade" energy being released, it is not efficient as the light energy does not serve the purpose of heating water. Similarly, using the heating element as a light globe isn't a good idea either.
I'm not exactly sure on how useful the terms "high" and "low" grade energy are... If it means how readily the energy can be harnessed, light is probably the worst, with solar cells operating at about 10% efficiency, and nature (photosynthesis) operating at about 1%.