http://www.energyefficiencynews.com/i/2527/

US utilities across the countrywere celebrating yesterday as President Barack Obama unveiled the recipients ofa $3.4 billion investment in smart grid technology.

“Under the Recovery Act, we aremaking the largest-ever investment in a smarter, stronger, and more secureelectric grid,” Obama told the audience at the DeSotoNext GenerationSolar EnergyCenter in Arcadia, Florida.

The funds from the American Recovery andReinvestment Act (ARRA) will be shared between 100 projects involvingprivate companies, utilities, cities, and other partners in 49 states. The ARRAinvestment will be matched by industry funds taking the total to over $8billion.

Of the funds, some $400 millionwill be put towards modernising outdated transmission lines to improveefficiency, while $25 million will help support US manufactures producing smartgrid products. The lion’s share, however, most will support the integration ofsmart grid technologies and the installation of smart meters.

In Florida, for example, Florida Power and Light will useits $200 million award to roll out smart meters to 2.5 million customers.Households in the District of Columbia, Maryland and New Jersey will also get smart meters thanks to a $168.1million award to PepcoHoldings and Baltimore Gasand Electric Company will also be using its $200 million in funding to rollout 2 million smart meters.