Report: More Smart Meters in Clean Energy Economy

According to a new report by Vice President Biden, the number of
U.S. homes with smart meters will jump almost fivefold by 2015 as part of the
move to a clean energy economy.

In a memo to President Obama,
"Progress Report: The Transformation to a Clean Energy Economy,"
Biden said the national stimulus package
would help fund the installation of millions of smart meters to track energy
usage in American homes among other changes.

"The transition to a
clean energy economy will result in a transformation not only in how we produce
and transport energy, but in how we use it," the memo said.

The vice president said the
Obama Administration and private industry will also fund the installation of
877 sensors on the electric transmission system to improve reliability,
compared to 160 in place when Obama first took office.

The memo also projected a near
future of ‘smart appliances,' energy efficient homes, and smart grid investments expected to yield 43,000 new jobs
and be "matched more than one-to-one by private sector funding that could
support up to 61,000 additional jobs on smart grid projects" intended to
reduce costs and improve system dependability.

In addition to changing the
way we use energy, the Electric Power Research Institute says the
implementation of these and other changes could reduce overall usage 4 percent
over the next two decades and mean annual utility bill savings of $20.4 billion
for businesses and consumers around the country.

Biden said the Recovery Act's
$23 billion for renewable power generation will likely create 253,000 jobs and
double energy production from solar, wind and geothermal sources by 2012.