President Barack Obama has pledged $3.4 billion in government support for 100 projects aimed at modernizing the nation’s power grid.
According to an Associated Press article written by reporter Chuck Babbington, the President “likened the effort to the ambitious development of the national highway system 50 years ago. He said modernization would lead to a ‘smarter, stronger and more secure electric grid.'”
Development of a 21st century grid has been a centerpiece of the Pickens Plan. It will allow existing sources of electricity to be moved more efficiently around the country, and will enhance the development of news sources of energy – largely wind and solar – by making possible to get the energy from where it is being produced to where it is needed.
The grants will be to about 100 projects where were selected from 400 submitted. According to the AP, “The projects include installing ‘smart’ electric meters in homes, automating utility substations, and installing thousands of new digital transformers and grid sensors.”
The money is part of the stimulus package which was approved by Congress in January. Babbington reports,
The $3.4 billion in grants from the government’s January economic stimulus program will be matched by $4.7 billion in private investments. The smallest grant will be $400,000 and the largest $200 million.
To read the entire Associated Press article, go HERE.
— The Pickens Team