Energy Secretary Steven Chu said the U.S. will raise the cap on grants for the development of smart grid projects to $200 million from $20 million.
Chu made the announcement today after meeting with the chief executives of energy-related companies at the White House.
The $787 billion stimulus legislation signed into law in February included $4.5 billion for the technologies, which aim to improve the reliable flow of power on the nation’s electrical grid and increase energy efficiency.
Several industry groups and governors have called on the department to rethink a $20 million cap proposed in an April 16 notice by the department. California Gov. Arnold Schwarzenegger last month sent a letter to the energy secretary asking the cap be raised to $200 million.
“The current cap causes utilities to pursue separate, smaller projects that are not as regionally integrated or cutting edge,” the Republican governor wrote in the April 30 letter.
— Bloomberg News
via Finance and Commerce.
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