Visit msnbc.com for Breaking News, World News, and News about the Economy
The Obama Administration is investing $3.4 billion through the American Recovery and Reinvestment Act, to help fund the largest single energy grid modernization in U.S. history. One-hundred private companies, utilities, manufacturers, cities and other partners will receive grant awards tomorrow ranging from about $400,000 to $200 million to help build a nationwide smart energy grid that will cut costs for consumers, make the grid stronger and more reliable, and increase accessibility to clean, low-cost renewable energy sources for American homes and businesses. An analysis by the Electric Power Research Institute estimates that implementation of smart grid technologies could reduce electricity use by more than 4 percent by 2030, saving $20.4 billion for businesses and consumers across the country. Read the rest of the Smart Grid fact sheet here.
Here is the plant:
