The DOE has issued its official funding opportunity announcement for about $3.9 billion in stimulus package grants for smart grid projects. Security for smart grid systems is among its top concerns.
The Department of Energy has issued its long-awaited guidelines for utilities and companies hoping to get a piece of the multibillion-dollar smart grid stimulus grant package – and security has emerged as a top concern for projects that want to get funded.
The funding opportunity announcement issued Thursday sets rules for how to apply for about $3.9 billion in grants, which will provide part of the cost of qualifying projects.
It’s an important boost for utilities seeking to build out expensive two-way communication and control technologies for their electricity grids, with projects ranging from smart meter networks to sensors and controls for distribution and transmission grids.
As expected, the DOE’s funding will be broken into two categories. The larger portion, about $3.3 billion, is for the Smart Grid Investment Grant Program, aimed at technologies that can be deployed on a commercial scale.
And the pressure is on to apply for those investment grants, noted John Quealy, managing director of equity research for Canaccord Adams. Letters of intent are due by July 16, and full applications are due by August 6, with awards to be announced in October, he said.
That means “we’ll continue to see a heightened level of news flow by utilities heading into this first deadline,” he said.
The grants will also be split up according to the size of the proposed projects, with those under $20 million to get 40 percent of the total, and larger projects between $20 million and $200 million to get 60 percent of the total, he said.
via Greentech Media: DOE Issues Rules for $3.9B in Smart Grid Stimulus Grants.
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