Our Nation’s electric grid is the backbone of our economy, a key factor in future economic growth, and a critical component of our energy security. Modernizing and revitalizing our electric grid has been a top priority for President Obama.
The Department of Energy today unveiled new steps in its Grid Modernization Initiative – an effort to make our nation’s electrical power grid more affordable, resilient, and sustainable. Energy Secretary Ernest Moniz announced two components of the initiative today while visiting a utility control center in Miami, FL: a Multi-Year Program Plan (MYPP); and $220 million over three years in funding for 88 research and development projects led by 14 of the National Labs, in coordination with public and private-sector partners.
“Modernizing the U.S. electrical grid is essential to reducing carbon emissions, creating safeguards against attacks on our infrastructure, and keeping the lights on.”-Secretary Moniz
This new initiative builds upon more than $4.5 billion in modernizing the grid the Department of Energy has invested through the Recovery Act. This includes more than $3.3 billion in smart grid technology deployment and an additional $685 million in smart grid regional and energy storage demonstration projects. As a result of these investments, the nation’s grid is now more reliable, resilient, flexible, efficient, and secure. In various parts of the country, improvements in distribution system reliability increased by up to 50%, and operational costs have been reduced by up to 50%. Service is restored faster after weather-related grid outages and emissions have been reduced. In addition, consumers are now able to better manage their own consumption, saving money and electricity.
Read more at the White House Blog.
Act Now to see the list of projects to receive funding.