It is interesting and instructive to note what the New Testament teaches about the grace of God.
Grace is the means of justification and salvation. “For by grace are ye saved through faith; and that not of yourselves: it is the gift of God: Not of works, lest any man should boast” (Ephesians 2:8-9).
The believer stands in grace, is under grace, and has access to Gods throne of grace. “Seeing then that we have a great high priest, that is passed into the heavens, Jesus the Son of God, let us hold fast our profession. For we have not an high priest which cannot be touched with the feeling of our infirmities; but was in all points tempted like as we are, yet without sin. Let us therefore come boldly unto the throne of grace, that we may obtain mercy, and find grace to help in time of need” (Hebrews 4: 14-16).
Although Israel as a nation has been set aside by God, there is a remnant among them according to the election of grace in the present dispensation. “Even so then at this present time also there is a remnant according to the election of grace” (Romans 11: 5).
Gods grace is sufficient, so that His strength is made perfect in weakness. “And he said unto me, My grace is sufficient for thee for my strength is made perfect in weakness … ” (2 Corinthians 12:9).
Gods grace enables for an abundant and effective ministry “But by the grace of God I am what I am: and his grace which was bestowed upon me was not in vain; but I laboured more abundantly than they all: yet not I, but the grace of God which was with me” (l Corinthians 15:10).
Gods people may and should grow in grace. “But grow in grace, and in the knowledge of our Lord and Saviour Jesus Christ. To him be glory both now and for ever” (2 Peter 3: 18).
In the ages to come, God will show the exceeding riches of His grace toward us. “That in the ages to come he might shew the exceeding riches of his grace in his kindness toward us through Christ Jesus” (Ephesians 2:7).