Biden administration announces $3.5 billion for projects to strengthen nationwide electric grid stressed by extreme weather [View all]
Source: Fortune/AP
October 19, 2023 at 4:41 AM EDT
The Biden administration on Wednesday announced $3.5 billion for 58 projects across the country to strengthen electric grid resilience as extreme weather events such as the deadly Maui and California wildfires continue to strain the nation’s aging transmission systems.
Energy Secretary Jennifer Granholm said it was the largest federal investment ever in grid infrastructure, supporting projects that will harden electric systems and improve energy reliability and affordability. The federal spending, combined with money promised by private partners, could result in up to $8 billion in investments nationally to upgrade the grid, Granholm said.
“The grid, as it currently sits, is not equipped to handle all the new demand” and withstand natural disasters and extreme weather worsened by climate change, Granholm said at a news conference. “We need it to be bigger, we need it to be stronger, we need it to be smarter” to bring a range of renewable energy projects online and meet the Biden administration’s goal of reaching 100% clean electricity by 2035, she said.
Projects funded by the federal Grid Resilience and Innovation Partnerships program will increase the flexibility, efficiency and reliability of electric power systems, with a particular focus on spurring solar, wind and other renewable energy, Granholm said. The projects also are aimed at fixing problems that may contribute to wildfires and other disasters and will improve reliability by deploying innovative approaches to electricity transmission, storage and distribution, she and other officials said.
Read more: https://fortune.com/2023/10/19/biden-administration-jennifer-granholm-35-billion-strengthen-nationwide-electric-grid-extreme-weather/
Link to press release - Biden-Harris Administration Announces $3.5 Billion for Largest Ever Investment in America’s Electric Grid, Deploying More Clean Energy, Lowering Costs, and Creating Union Jobs
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