DOE Puts Another $13B Toward Modernizing, Expanding U.S. Power Grid
$13 billion was announced by the U.S. Department of Energy for new financing opportunities for the expansion and modernization of the nation’s electric grid.
According to The Buzz EV News, The Grid Resilience Innovative Partnership (GRIP) program and the Transmission Facilitation Program together represent the largest single direct federal investment in critical transmission and distribution infrastructure and one of the first down payments on an over $20 billion investment under the Biden administration’s Building a Better Grid Initiative. Launched in January 2022, the Building a Better Grid Initiative brings together community and industry stakeholders to identify national transmission needs and is investing more than $20 billion to support the modernization and buildout of long-distance, high-voltage transmission and distribution systems.
