World: DOE Puts Another $13B Toward Modernizing, Expanding U.S. Power Grid

The U.S. Department of Energy (DOE) has announced $13 billion in new financing opportunities for the expansion and modernization of the nation’s electric grid.

The Grid Resilience Innovative Partnership (GRIP) program and the Transmission Facilitation Program together represent the largest single direct federal investment in critical transmission and distribution infrastructure and one of the first down payments on an over $20 billion investment under the Biden administration’s Building a Better Grid Initiative. Launched in January 2022, the Building a Better Grid Initiative brings together community and industry stakeholders to identify national transmission needs and is investing more than $20 billion to support the modernization and buildout of long-distance, high-voltage transmission and distribution systems. Independent estimates indicate that the U.S. needs to expand electricity transmission systems by 60% by 2030 and may need to triple current capacity by 2050 to accommodate the country’s rapidly increasing supply of cheaper, cleaner energy and meet increasing power demand for electric vehicles and electric home heating and reduce power outages from severe weather.

 

Source : https://bit.ly/3XkqDAV
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Smart Grid Bulletin December 2022


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