Smart Grid Stimulus Funds Awarded
October 30, 2009
This week, the U.S. Dept. of Energy (DOE), www.doe.gov, Washington, D.C., and President Barack Obama announced the recipients of smart grid investment grants. Given as part of the American Reinvestment and Recovery Act, these grants are designed to spur job creation while also benefiting consumers and businesses through lower energy consumption.
Nearly 400 smart energy-focused companies applied for the grants, and they had been anxiously awaiting the results. In the end, 100 companies received funds, and the DOE says the projects will encompass 49 states. Overall, $3.4 billion was awarded for projects such as smart meter implementations, grid infrastructure advancement, and manufacturing smart appliances. Many of these projects use M2M (machine-to-machine) technology, as they facilitate the transfer of data between people, devices, and systems.
The majority of the grants went to utilities to fund smart grid programs across the U.S. The DOE says $25 million of the money will go toward building a smart grid manufacturing industry, helping to expand the base of companies that produce smart meters, smart appliances, and other products.
Now that this large chunk of money has been awarded, it will be interesting see how quickly projects ramp up around the country. A number of these projects are already in the works, and the nation will surely be waiting to see how many jobs the grants produce related to smart grid projects.