Van Hollen Applauds Smart Grid Investment

Press Release

Van Hollen Applauds Smart Grid Investment

Today Congressman Chris Van Hollen (D-MD) issued the following statement on Recovery Act funding for Smart Grid projects. The Potomac Electric Power Company (PEPCO) will receive $104.8 million for work in Maryland as part of a $3.4 billion nationwide investment. Earlier this year, Congressman Van Hollen submitted a letter of support for PEPCO's Smart Grid Investment Grant Program application.

"Today's announcement by President Obama marks the largest single energy grid modernization investment in our nation's history. The funding, made possible by the Recovery Act, will allow electricity companies across the country to move towards a smarter and more efficient electric system. It is just one example of how the Recovery Act is both creating jobs today and investing in long term economic growth.

"In the Maryland area, this investment will allow PEPCO to create new job opportunities in the region and make a significant step forward in building the infrastructure necessary to bring clean, low-cost energy sources to our homes and businesses."

BACKGROUND

A Smart Grid Benefits Consumers. Along with creating tens of thousands of new jobs nationally, developing a new Smart Grid will save consumers money by enabling homeowners and businesses to have real-time information on the costs of their energy use, and the ability to manage their energy consumption.

An analysis by the Electric Power Research Institute estimates that the implementation of smart grid technologies could reduce electricity use by more than 4 percent by 2030. That would mean a savings of $20.4 billion for businesses and consumers around the country.

A Smart Grid Encourages Growth of Renewable Energies. A Smart Grid will also encourage and allow rapid growth in renewable energies like wind and solar, helping meet the Administration's goal of doubling renewable energy capacity over the next few years.

A Smart Grid Improves Reliability of Electricity System. Utilities with smart grid capabilities will know the health of their system in real time, increasing efficiency and reducing the risk of service interruptions or blackouts. Today's electricity system is reliable, yet still experiences power outages and interruptions that cost Americans at least $150 billion each year. Smart Grid's real time reporting systems and two way communications will take reliability to a new level.

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