USDA Has Reached Its $250 Million Smart Grid Funding Goal
September 12, 2012
The U.S. Department of Agriculture (USDA) on September 7 announced that the department has reached its $250 million goal to finance smart grid technologies, and also announced nine rural electric cooperatives and utilities in 10 states that will receive more than $27 million in smart grid loans. The funding will go to making improvements to generation and transmission facilities and implementing smart grid technologies.
As part of President Obama's Blueprint for a Secure Energy Future, the administration has outlined a framework for modernized electric systems that will benefit all Americans. This framework lays out a number of public and private initiatives, including a goal of $250 million in loans for smart-grid technology deployment as part of the USDA's Rural Utility Service, which is focused on upgrading the electric grid in rural America. See the USDA press release.