Tuesday, October 27, 2009

US Smart grid gets multibillion-dollar injection

US Smart grid gets multibillion-dollar injection

The U.S. electricity grid will get a 21st century upgrade, including installation of millions of smart meters, through a government-led program.

The Obama administration is scheduled to announce Tuesday where it is spending $3.4 billion of stimulus money on 100 smart-grid projects in 49 states. As part of the funding, utilities are contributing $4.7 billion to the projects, pushing the total spending to $8.1 billion.

"These grants are an important down payment on building a smarter grid and will certainly jump-start both industry and state regulators to deploy smart-grid technologies," Katherine Hamilton, president of industry advocacy group GridWise Alliance, said in a statement.

The largest grants are $200 million while the smallest are less than $10 million. Altogether, there are 25 large-scale projects and 75 smaller ones, officials said. There were 400 applications for funding.

More from CNET

No comments: