Biden-Harris Admin: Almost $72 Million in Largest Single Funding to Help America’s Hydropower Services

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President Biden’s Investing in America Agenda Funds the Largest Single Funding within the Nation’s Waterpower Manufacturing, 46 Tasks Throughout 19 States Funded to Enhance Entry to Inexpensive, Clear Electrical energy

WASHINGTON, D.C. —  In help of the President Biden’s Investing in America agenda, the U.S. Division of Vitality (DOE) yesterday introduced the number of 46 hydroelectric initiatives throughout 19 states to obtain as much as $71.5 million in incentive funds to extend the technology effectivity of the Nation’s present hydropower fleet. Administered by the Grid Deployment Workplace and funded by the Bipartisan Infrastructure Regulation, the Hydroelectric Effectivity Enchancment Incentive funds characterize DOE’s largest funding in hydroelectric services to this point.

“Hydropower is the nation’s prototype of renewable energy taking part in an necessary function in deploying reasonably priced and dependable electrical energy throughout the nation,” mentioned U.S. Secretary of Vitality Jennifer M. Granholm. “Due to the President’s Investing in America agenda we’re sustaining and increasing our hydropower fleets, serving to cut back prices of operation and making certain American employees proceed to drive the nation’s clear vitality transition.”

Hydropower is an integral part in serving to obtain the Biden-Harris Administration’s bold clear vitality targets. Right now’s incentive program acquired strong business curiosity, with functions requesting a complete of $192 million in federal help. Utilizing all out there funding directed to the motivation, the chosen enhancements are anticipated to generate $468 million in mixed federal and personal funding. With a mean selectee facility age of 75 years, these upgrades will contribute to the continued operation and longevity of hydroelectric belongings.

Hydropower at the moment accounts for 27% of renewable electrical energy technology in america, in addition to 93% of all utility-scale vitality storage capability. Along with renewable electrical technology, the U.S. hydroelectric fleet and their related reservoirs play an necessary function with respect to water provide, flood management, and recreation. Extra environment friendly use of water for electrical technology can solely improve the fleets’ means to extra successfully handle the nation’s waters.

Investments below the Hydroelectric Effectivity Enchancment Incentives will help the continued operation of the U.S. hydropower fleet and guarantee a extra dependable and resilient electrical grid system. The house owners or operators of hydroelectric services, together with pumped storage hydropower, receiving the effectivity incentives introduced yesterday will make capital enhancements that enhance their facility’s effectivity by a mean of 14% with a statutory minimal of three% enchancment per facility. Investments embody upgrades to facility generators and mills, in addition to enhancements to water conveyance buildings, to extend effectivity.

The 46 chosen initiatives could be present in California, Colorado, Connecticut, Georgia, Idaho, Maine, Massachusetts, New Hampshire, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, Washington, and West Virginia. A full checklist of chosen entities is obtainable right here.

A public webinar will likely be held at 1:00 p.m. ET on February 7, 2024, to supply an summary of the Hydroelectric Effectivity Enchancment Incentives alternatives and key traits recognized. Registration is required and a recording of the webinar will likely be made out there at a later date. Register right here.

The Hydroelectric Effectivity Enchancment Incentives are one in all three incentive choices funded by the Bipartisan Infrastructure Regulation to keep up and improve present hydroelectric services and guarantee mills proceed to supply clear, renewable electrical energy, whereas bettering dam security and lowering environmental impacts. Different program choices embody Hydroelectric Manufacturing Incentives supplied to certified hydroelectric services for electrical energy generated and offered and Sustaining and Enhancing Hydroelectricity Incentives supplied to present hydroelectric services for capital enhancements immediately associated to grid resiliency, dam security, and environmental enhancements.

Study extra concerning the Grid Deployment Workplace.

Information courtesy of U.S. Division of Vitality.