The White House announced through the Department of Energy (DOE) on Nov. 18 that it is soliciting grant applications for $13 billion in new financing under the bipartisan infrastructure bill for the expansion and modernization of the U.S. electric grid.
The $1.2 trillion infrastructure law, passed last year, provides $10.5 billion to harden power systems against growing threats like extreme weather and climate change, the DOE said, and a further $2.5 billion to help build new transmission lines.
An estimated 70% of the nation’s transmission lines are over 25 years old, and this aging infrastructure makes American communities, critical infrastructure and economic interests vulnerable, the White House said.
The upgraded transmission system is also critical to cost-effectively achieving Biden’s goals of reducing greenhouse-gas emissions 50% below 2005 levels in 2030 and achieving 100% clean electricity by 2035.
The White House highlighted other initiatives aimed at boosting the power grid, such as expediting approval of new transmission lines, advancing major project reviews and supporting wind-power transmission.
2022-11-22 - The deal includes Clearfield, Elk and McKean counties, Pennsylvania, assets with current net production averaging about 17 MMcf/d.
2022-11-22 - Recently formed Permian Resources isn’t averse to looking at value propositions but at the moment the company is focused on driving synergies and creating shareholder value, Co-CEO Will Hickey told attendees of Hart Energy’s Executive Oil Conference.
2022-11-03 - The investment in Dallas-based solar developer Aspen Power “will be entirely vertically integrated in the distributed generation space, which includes community, commercial and industrial, and sub-utility solar,” Carlyle’s Pooja Goyal said in an interview.
2022-11-02 - Even with global efforts to address climate change and reduce emissions that include trillions of dollars of investment, the planet is on course to warm by 2.2 C by the year 2100, the latest “Energy Transition Outlook” from DNV reveals.
2022-11-01 - Exxon Mobil joins Solent Local Enterprise Partnership and the University of Southampton to form The Solent Cluster, the first major decarbonization initiative to reduce CO₂ emissions across the Solent region and Southern England.