David Kirkpatrick

October 29, 2009

Stimulus money going to the power grid

Almost three and half billion dollars of stimulus money in fact. This ARRA cash will be stretched by a requirement for matching private investment.

From the link:

President Obama on Tuesday announced a $3.4 billion federal investment to modernize the country’s outdated power grid.

The money will go to 100 projects in 49 states to add automated substations, digital transformers, electric meters in homes and other high-tech equipment to create a “smart” grid.

“We’re going to create an energy superhighway,” Mr. Obama said when making the announcement at Florida Power & Light Co.’s DeSoto Next Generation Solar Energy Center in Arcadia, Fla., one of the country’s biggest solar-power facilities.