Progress Energy has applied for $200 million in federal funds to help build out an electric “smart grid” in its Carolinas and Florida territories, the Raleigh-based utility announced Wednesday.
The U.S. Department of Energy is awarding $4.5 billion in smart grid grants nationwide as part of the American Recovery and Reinvestment Act of 2009. Smart grid refers to electric transmission and distribution upgrades that use advanced systems to give utilities and customers tools to better monitor and manage electricity demand.
Progress already plans to invest $320 million in smart grid enhancements in the Carolinas and Florida. If Progress receives the $200 million Department of Energy grant, the funds would be shared equally between the two territories.
via Progress asks feds for $200 million to help build ‘smart grid’ – Triangle Business Journal:.
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