Biden Administration Moves to "Build a Better Grid"
On Wednesday, the Biden Administration publicized its "Building a Better Grid" initiative, which aims to transition the US to renewable energy by improving the power grid and using public land for solar, wind, and geothermal power.
The Administration plans to allot $65 billion for grid improvements: $2.5 billion for improved transmission lines; $3 billion to smart grid technology; and $10 billion for grants that will go to states, tribes, and utilities for power outage prevention.
Why This Matters
Funding renewable energy is a crucial part of mitigating the effects of climate change. In Texas, for example, increasingly extreme winter storms have exposed the weaknesses of its gas-powered electrical grid. In California, faulty power lines spark wildfires. The average American went over eight hours without power in 2020, much longer than normal.
Moreover, fossil fuels are becoming increasingly pricey. On December 31, the market closed at $77.78 for a barrel of Brent Crude oil.
A Better Grid Gets Going
The Biden Administration has promised to add transmission lines with input from tribes and local governments. Meanwhile, the Bureau of Ocean Energy Management (BOEM) began to auction off six commercial lease areas off the coasts of New York and New Jersey for wind farms that could generate enough power to fuel 2 million homes. The intention is to install 30GW of offshore wind capacity throughout the US by 2030, and BOEM has proposals in motion to build wind farms off the Gulf Coast, the West Coast, and central Atlantic.
CNBC: The Rise Of Wind Power In The US, March 10, 2021.