Smart grid involvement has created a domino effect with organizations, government, companies and institutions worldwide.

And, in light of President Barack Obama’s recent smart grid initiative, in which $3.4 billion in government funding will be delegated to various utility companies seeking to revolutionize the smart grid infrastructure, it seems as if North Carolina can be added to the list of locations receiving a hefty smart grid paycheck.

Lisa P. Jackson, U.S. EPA Administrator, recently awarded $200 million in grants to Raleigh, North Carolina, for the area’s initiatives for a smarter, stronger and more efficient electrical system that will stem to South Carolina and Florida as well. 

The funding is part of President Barack Obama’s announcement of the largest single energy grid modernization investment in U.S. history. Under the American Recovery and Reinvestment Act, the funds will be matched by industry professionals for a total investment worth more than $8 billion. 

Jackson said that a new goal of the foundation is for a push in the growth of a clean energy economy in the United States.

“Investments in innovative smart grid technology will create new jobs, lower energy bills for consumers and businesses, promote more efficient and reliable energy delivery and set the stage for affordable clean energy across the country,” she added. 

North Carolina Governor, Bev Perdue said that the funds will assist in modernizing North Carolina’s energy grid. “Empowering consumers to cut their electric bills and paving the way for a greener, more efficient energy system,” Perdue added. 

The $200 million grant, which Progress Energy will match with $300 million of its own funding, will fund system and equipment upgrades that will make their grid more efficient, saving consumers money in the Carolinas and in Florida. Progress Energy will also use its funding to install 160,000 smart meters and
other technology that will cut energy costs for its customers.

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. 

Therefore, a savings of $20.4 billion could be possible for businesses and consumers around the country, and $500 million for North Carolina alone. 

And, with Progress Energy’s matched investment, the North Carolina companies, service give states, will receive a totally of $403 million in recovery act funding for smart grid development, which will be matched by nearly $975 million in private funds. 

“Progress Energy is currently investing in several Smart Grid initiatives to meet our customer’s changing electricity needs throughout the communities that rely on us for reliable power,” Bill Johnson, Progress Energy chairman, president and CEO, said. “This grant program has the potential to expand investments necessary to transform the electric grid to give customers greater control of their energy use, enable utilities to harness the potential of renewable energy and electric vehicles and improve power quality and service reliability.”