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.
Recommended Reading
Spate of New Contracts Boosts TechnipFMC's Subsea Profits
2024-04-30 - TechnipFMC's operational profits are growing as the company heightened its focus on “quality” subsea orders, which earned $2.4 billion for the first quarter.
AI Advancing Underwater, Reducing Human Risk
2024-03-25 - Experts at CERAWeek by S&P Global detail the changes AI has made in the subsea robotics space while reducing the amount of human effort and safety hazards offshore.
Forum Energy Signs MOU to Develop Electric ROV Thrusters
2024-03-13 - The electric thrusters for ROV systems will undergo extensive tests by Forum Energy Technologies and SAFEEN Survey & Subsea Services.
Tech Trends: AI Increasing Data Center Demand for Energy
2024-04-16 - In this month’s Tech Trends, new technologies equipped with artificial intelligence take the forefront, as they assist with safety and seismic fault detection. Also, independent contractor Stena Drilling begins upgrades for their Evolution drillship.
Going with the Flow: Universities, Operators Team on Flow Assurance Research
2024-03-05 - From Icy Waterfloods to Gas Lift Slugs, operators and researchers at Texas Tech University and the Colorado School of Mines are finding ways to optimize flow assurance, reduce costs and improve wells.