DOE backs grid projects with $3.5B in grants

The Biden administration will award close to $3.5 billion in dozens of grants to make the electric grid more resilient, in what it's calling the single largest federal investment ever in the electric grid.

Why it matters: The initiative highlights the importance of strengthening electricity grids as the U.S. adds more clean power, sees electricity demand grow for EVs, and faces increased extreme weather.

Details: The Grid Resilience and Innovation Partnerships (GRIP) Program will deploy the funds, via the 2021 bipartisan infrastructure law and leveraging private cash, to 58 projects across 44 states to utilities and energy companies.

• The DOE estimates the funding will help bring more than 35 GW of renewables online and support 400 microgrids.

Big picture: The fact that $3.5 billion is the largest historic federal investment in the power grid underscores the repeated lack of investment in the grid over decades.

• The grid is the most important piece of infrastructure to help combat climate change as it underpins both the transition to clean energy and will fuel the use of electric vehicles.