Press Release
☷Biden Harris Administration Announces Nearly $72 Million in Largest Single Investment to Support America s Hydropower Facilities
U.S. Department of Energy ( By Press Release office)
Feb 04,2024
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President Biden ' s Investing in America Agenda is funding the biggest investment ever in the country ' s waterpower production . They ' re giving funding to 46 projects across 19 states to make electricity more affordable and clean . The U . S . Department of Energy ( DOE ) is behind this initiative , and they ' re providing up to $71 . 5 million in incentive payments to improve the efficiency of existing hydropower facilities . This is the largest investment in hydroelectric facilities that the DOE has made so far . Secretary of Energy Jennifer M . Granholm said that hydropower is a crucial source of renewable energy that helps bring affordable and reliable electricity to the nation . The Biden - Harris Administration is committed to achieving clean energy goals , and hydropower plays a big role in that . The incentive program received a lot of interest from the industry , with applications requesting $192 million in federal support . The selected improvements are expected to generate a total of $468 million in federal and private investment . The upgrades will help the aging hydroelectric assets continue operating and contribute to their longevity . Hydropower currently makes up 27% of renewable electricity generation in the U . S . and 93% of utility - scale energy storage capacity . It also plays a role in water supply , flood control , and recreation . Improving the efficiency of water use for electric generation will benefit the nation ' s water management . The investments in hydropower efficiency will support the ongoing operation of the U . S . hydropower fleet and make the electric grid system more reliable and resilient . The owners or operators of hydropower facilities receiving the incentives will make improvements that increase their facility ' s efficiency by an average of 14% , with a minimum improvement of 3% per facility . These investments will include upgrading turbines , generators , and water conveyance structures to enhance efficiency . The 46 projects that were chosen can be found in various states like California , Colorado , Connecticut , Georgia , Idaho , Maine , Massachusetts , New Hampshire , New York , North Carolina , Oklahoma , Oregon , Pennsylvania , Rhode Island , Tennessee , Vermont , Virginia , Washington , and West Virginia . You can find a complete list of the selected entities here . We ' ll be hosting a public webinar on February 7 , 2024 , at 1:00 p . m . ET to give an overview of the Hydroelectric Efficiency Improvement Incentives selections and highlight key trends . You ' ll need to register for the webinar , but don ' t worry , a recording will be available later . To register , click here . The Hydroelectric Efficiency Improvement Incentives are one of three incentives provided by the Bipartisan Infrastructure Law to support and improve existing hydroelectric facilities . These incentives aim to ensure that generators continue to produce clean and renewable electricity , while also enhancing dam safety and minimizing environmental impacts . There are two other programs available , including Hydroelectric Production Incentives for qualified hydroelectric facilities and Maintaining and Enhancing Hydroelectricity Incentives for capital improvements that directly contribute to grid resiliency , dam safety , and environmental enhancements . If you want to learn more about the Grid Deployment Office , you can find additional information here .
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