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Heavy Push by Industry, Biden Administration to Jumpstart Transmission Expansion, Grid Modernization
Bolstering the Biden administration’s recently announced initiatives to modernize the nation’s grid and improve its resilience, the Department of Energy (DOE) on April 27 made up to $8.25 billion in loans available to expand transmission capacity nationwide, while the Department of Transportation (DOT) offered new guidance to help speed the siting and permitting of transmission lines.
28 April 2021 1:25 GMT Updated 28 April 2021 1:27 GMT
The US government has unveiled ambitious measures to oil the wheels of financing and siting of long-distance powerlines necessary to unlock and deliver more low-cost renewable energy from the country’s interior as well as from future wind farms off the Atlantic coast.
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The loan programmes office of the Department of Energy (DoE) opened channels seeking applications for up to $5bn in loan guarantees to support innovative transmission projects by private companies or those owned by nearly 600 tribal nations or Alaska Native Corporations recognised by the federal government.