Tuesday, October 27, 2009

President Obama Announces $2.3 Billion Smart Grid Funding

The White House

Office of the Press Secretary, For Immediate Release

October 27, 2009

Remarks by the President on Recovery Act Funding for Smart Grid Technology

DeSoto Next Generation Solar Energy Center Arcadia, Florida


Now, it's time to make the same kind of investment in the way our energy travels -- to build a clean energy superhighway that can take the renewable power generated in places like DeSoto and deliver it directly to the American people in the most affordable and efficient way possible. Such an investment won't just create new pathways for energy -- it's expected to create tens of thousands of new jobs all across America in areas ranging from manufacturing and construction to IT and the installation of new equipment in homes and in businesses.

It will allow us to more effectively transport renewable energy generated in remote places to large population centers, so that a wind farm in rural South Dakota can power homes in Chicago. And by facilitating the creation of a clean energy economy, building this 21st century energy infrastructure will help us lay a foundation for lasting growth and prosperity.

So that's why today, I'm pleased to announce that under the Recovery Act, we are making the largest-ever investment in a smarter, stronger, and more secure electric grid. This investment will come in the form of 100 grants totaling $3.4 billion -- grants that will go to private companies, utilities, cities, and other partners who have applied with plans to install smart grid technologies in their area.

Now, let me explain what's going on with these smart meters. Smart meters will allow you to actually monitor how much energy your family is using by the month, by the week, by the day, or even by the hour. So coupled with other technologies, this is going to help you manage your electricity use and your budget at the same time, allowing you to conserve electricity during times when prices are highest, like hot summer days.


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