Economic Message of the Week: DOE Allocates $620 Million in Smart Grid Grants

The Energy Department recently announced the
allocation of $620 million in stimulus grants to projects that test
smart grid technology and energy storage capabilities with an eye
toward building a more efficient and resilient national electrical grid.
"This funding will be used to show how smart-grid technologies can
be applied to whole systems to promote energy savings for consumers,
increase energy efficiency and foster the growth of renewable energy
sources like wind and solar power,"said Energy Secretary Steven Chu.
The smart grid grants were awarded to 32 demonstration projects
including large-scale energy storage, smart meters, and other smart
technologies, which will act as models for "deploying integrated Smart
Grid systems on a broader scale," according to an Energy Department
statement. Stimulus funds will be leveraged with private sector funds
to support some $1.6 billion in total Smart Grid projects nationwide.
The new grants come in addition to $3.4 billion in stimulus grants for
100 smart-grid projects, the largest energy grid update investment in
history, announced in October.

Published: December 3, 2009