$8 Billion to Propel the U.S. to a Greener, Smart Technology Future
After half a century of utilizing a now-outdated and ineffective power grid technology, the U.S. is finally ready to step up to the plate and invest in new, "smarter" technologies. This effort is being funded by $3.4 Billion from President Obama's American Reinvestment and Recovery Act and $4.7 Billion from industry and private investments. The energy industry will first use these funds to learn about the average American's energy usage through the installation of 18 million "smart meters" in 13 percent of U.S. homes. Additionally, "smart software" will be developed and implemented so that energy supply throughout the nation is distributed on an as-needed, instead of a continuous, basis. The over 8 billion dollars will also fund syncrophasors, automated substations, and smart transformers to consolidate our previously disconnected power system, saving both energy and money in the long-term. Research and development of electric vehicles, "smart" appliances, renewable energy resources, and other green technologies are also a focus of this forward-looking initiative.