… And Announces $600M Funding for Smart Grid and Energy Storage [Update -- 1:31 PM]
Update | 1:31 PM: The DOE just emailed us the release on the $620 million smart grid funding announcement.
The funding will support 32 projects across the country.
Of the $620 million, $435 million will support fully integrated, regional smart grid demonstrations in 21 states, representing over 50 utilities and electricity organizations with a combined customer base of almost 100 million consumers. And $185 million will fund utility-scale energy storage projects.
On the funding Secretary Chu said:
This funding will be used to show how Smart Grid technologies can be applied to whole systems to promote energy savings for consumers, increase energy efficiency, and foster the growth of renewable energy sources like wind and solar power.
So, to recap: Yesterday, the DOE disbursed $18 million to support 107 small cleantech firms. Today, the DOE released another $620 million in stimulus funding for next-generation smart grid and energy storage projects – See here for a list of the selected projects.
This morning, industry group the GridWise Alliance emailed us a release congratulating the Department of Energy on its plan to invest more than $600 million in stimulus money on smart grid and energy storage solutions. The GridWise release was actually sent ahead of the official DOE announcement, but this latest clean energy funding had been expected for a couple of weeks.
Things are a little confusing because, as we’ve reported below, the DOE has also come out with a separate $18 million funding announcement supporting “small business innovation research, development and deployment of clean energy technologies.” We’ve called GridWise and the DOE for some clarification.
The $600 million smart grid funding will finance smart grid demonstration projects. Specifically, the money will enable utilities to test digital power grid technology. In all, with last month’s announcement by President Obama, that’s more than $4 billion in stimulus money going to smart grid projects.
Earth2Tech reports that an official announcement on the $600 million is expected by Secretary Chu from Ohio.
