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Smart Grid Investment Goal Reached

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USDA has reached its goal of funding 250-million dollars in smart grid improvements. President Obama’s goal was met Friday as U.S. Secretary of Agriculture Tom Vilsack announced that nine rural electric cooperatives and utilities in 10 states will receive loan guarantees to make improvements to generation and transmission facilities and implement smart grid technologies. Vilsack says grid modernization and deployment of smart grid technology will increase the reliability and efficiency of electric power generation. He says providing reliable, affordable electrical service contributes to stronger rural economies and is the backbone for a prosperous rural America.

According to Vilsack – the 250-million dollar investment in loan funds for smart grid technologies means infrastructure investment at virtually no cost to the taxpayer. These technologies will facilitate the integration of renewable sources of electricity into the grid, help avoid blackouts and restore power quicker when outages occur and reduce the need for new power plants. What’s more – the funds have further enabled rural utilities to make efficiency improvements to the electric grid that will help consumers lower their electric bills by reducing energy use in homes and businesses.

Source: NAFB News Service