Progress Energy announced that it applied for $200 million in U.S. Department of Energy (DOE) federal infrastructure funds for the development of an electric Smart Grid in the Carolinas and Florida. The DOE grant would be shared equally between the two states.
A “Smart Grid” is a modernized digital electric transmission and distribution system that delivers detailed, real-time energy use information to customers.
Progress Energy is investing in Smart Grid because the electric grid of the future must engage with customers, and allow them to make better educated energy consumption decisions.
The state-of-the-art grid allows utility companies and consumers to monitor and adjust their electricity use, while providing increased flexibly to integrate new renewable energy resources such as solar and wind power, energy storage devices and electric vehicles. It also helps minimize interruptions in electrical service during storms and other routine power outages.
