Energy Efficiency, GHG Emissions - November 22, 2022
DOE Allocates $13 Billion to Modernize the U.S. Power Grid
The Biden-Harris Administration announced $13 billion in new financing opportunities for expanding and modernizing the nation’s electric grid as part of the Bipartisan Infrastructure Law.
Together, the Grid Resilience Innovative Partnership (GRIP) program and the Transmission Facilitation Program 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 Administration’s Building a Better Grid Initiative. These investments will direct funds to state and private sector capital for projects that increase the power grid’s reliability as part of the U.S. goal to reach 100% clean electricity by 2035.
“We are moving swiftly to deliver cleaner, cheaper energy to every American community by building a modern and reliable electric grid,” said U.S. Secretary of Energy Jennifer M. Granholm, in a statement. “With nearly 70% of the nation’s grid more than 25 years old, the President’s agenda is making historic investments that will strengthen the nation’s transmission grid to drive down energy costs, generate good-paying jobs, and help keep the lights on during extreme weather events.”
The GRIP Program will share $10.5 billion across grid resilience utility and industry grants, smart grid grants, and grid innovation programs. The Transmission Facilitation Program establishes a revolving fund to help overcome the financial hurdles facing large-scale new transmission lines, upgrades of existing transmission lines, and, in select states and territories, the establishment of microgrids.