US to invest $2.2 billion to overhaul national power grid

investing.com 06/08/2024 - 10:17 AM

Biden Administration Invests in Power Grid Resilience

(Reuters) – The Biden administration announced on Tuesday a $2.2 billion investment to revamp the nation’s power grid amidst increasing threats from extreme weather events.

The U.S. government is actively working to overhaul the electric transmission system, which faces pressures from both extreme weather and a rising number of energy-intensive data centers.

This grid upgrade will add nearly 13 gigawatts (GW) of capacity, enhancing manufacturing, accommodating more data centers, and improving renewable power transmission, according to the Department of Energy.

The funding will support eight projects across 18 states.

“The first half of 2024 has already broken records for the hottest days in Earth’s history, and as extreme weather continues to impact every region of the country, we must act with urgency to strengthen our aging grid,” stated U.S. Secretary of Energy Jennifer M. Granholm.




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