Home

US utilities share $3.4 billion investment in smart grid technology

US utilities across the country were celebrating yesterday as President Barack Obama unveiled the recipients of a $3.4 billion investment in smart grid technology.

“Under the Recovery Act, we are making the largest-ever investment in a smarter, stronger, and more secure electric grid,” Obama told the audience at the DeSoto Next Generation Solar Energy Center in Arcadia, Florida.

The funds from the American Recovery and Reinvestment Act (ARRA) will be shared between 100 projects involving private companies, utilities, cities, and other partners in 49 states. The ARRA investment will be matched by industry funds taking the total to over $8 billion.

Of the funds, some $400 million will be put towards modernising outdated transmission lines to improve efficiency, while $25 million will help support US manufactures producing smart grid products. The lion’s share, however, most will support the integration of smart grid technologies and the installation of smart meters.

In Florida, for example, Florida Power and Light will use its $200 million award to roll out smart meters to 2.5 million customers. Households in the District of Columbia, Maryland and New Jersey will also get smart meters thanks to a $168.1 million award to Pepco Holdings and Baltimore Gas and Electric Company will also be using its $200 million in funding to roll out 2 million smart meters.

Implementing smart grid technologies across the US could reduce electricity use by over 4% by 2030, according to the Electric Power Research Institute, which would bring savings of over $20 billion.

For further information:
www.energy.gov
www.recovery.gov
www.fpl.com/
www.pepcoholdings.com/
www.bge.com/
www.epri.com/

28 October 2009

Back