Biden-Harris Administration announces nearly US$72 million to support America’s hydropower facilities
Published by Jessica Casey,
Editor
Energy Global,
In support of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) has announced the selection of 46 hydroelectric projects across 19 states to receive up to US$71.5 million in incentive payments to increase the generation efficiency of the Nation’s existing hydropower fleet. Administered by the Grid Deployment Office and funded by the Bipartisan Infrastructure Law, the Hydroelectric Efficiency Improvement Incentive payments represent DOE’s largest investment in hydroelectric facilities to date.
“Hydropower is the nation’s prototype of renewable power playing an important role in deploying affordable and reliable electricity across the country,” said U.S. Secretary of Energy, Jennifer M. Granholm. “Thanks to the President’s Investing in America agenda we are maintaining and expanding our hydropower fleets, helping reduce costs of operation and ensuring American workers continue to drive the nation’s clean energy transition.”
Hydropower is an essential component in helping achieve the Biden-Harris Administration’s ambitious clean energy goals. Today’s incentive programme received robust industry interest, with applications requesting a total of US$192 million in federal support. Using all available funding directed to the incentive, the selected improvements are anticipated to generate US$468 million in combined federal and private investment. With an average selectee facility age of 75 years, these upgrades will contribute to the continued operation and longevity of hydroelectric assets.
Hydropower currently accounts for 27% of renewable electricity generation in the US, as well as 93% of all utility scale energy storage capacity. In addition to renewable electric generation, the US hydroelectric fleet and their associated reservoirs play an important role with respect to water supply, flood control, and recreation. More efficient use of water for electric generation can only enhance the fleets’ ability to more effectively manage the nation’s waters.
Investments under the Hydroelectric Efficiency Improvement Incentives will support the continued operation of the US hydropower fleet and ensure a more reliable and resilient electric grid system. The owners or operators of hydroelectric facilities, including pumped storage hydropower, receiving the efficiency incentives announced today will make capital improvements that improve their facility’s efficiency by an average of 14% with a statutory minimum of 3% improvement per facility. Investments include upgrades to facility turbines and generators, as well as improvements to water conveyance structures, to increase efficiency.
The 46 selected projects can be found in 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.
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Read the article online at: https://www.energyglobal.com/other-renewables/06022024/biden-harris-administration-announces-nearly-us72-million-to-support-americas-hydropower-facilities/
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