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US DOE opens $13 B funding opportunity for power grid

USA, Washington, D.C.: The US Department of Energy has opened the first round of applications for $13 B in competitive funding for power grid projects.

DOE says it will help reduce electricity costs, boost resiliency and build out the nation’s aging transmission system. Roughly 70 % of the nation’s transmission lines are more than a quarter century old, the White House said in a recent statement.

There is $10.5 B available for competitive grants under DOE’s Grid Resilience and Innovation Partnership, or GRIP, programs and $2.5 B through the Transmission Facilitation Program.

Within the GRIP programs, there is $2.5 B for grid resilience grants, $3 B for smart grid grants and $5 B for grid innovation efforts.

According to the agency, the USA needs to expand electricity transmission systems by 60 % by 2030 “and may need to triple current capacity by 2050.” The Biden administration has advanced billions of dollars in clean energy incentives through the bipartisan infrastructure law, passed last year, as well as the Inflation Reduction Act, which the president signed in August.

DOE said the first round of funding for the GRIP programs includes $3.8 B for fiscal years 2022 and 2023.

 

Source: Utility Dive

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