Connect with us

Hi, what are you looking for?

Fibonacci Tech News

Biden administration announces ‘largest ever’ investment in US electric grid

A worker repairs a utility pole during a power outage after Hurricane Ida in New Orleans, Louisiana, U.S., on Thursday, September 2nd, 2021. | Photo by Eva Marie Uzcategui / Bloomberg via Getty Images

The Biden administration announced $3.46 billion in funding today to upgrade the US’s aging electric grid, the largest investment to date in the grid. The money, which comes from the Bipartisan Infrastructure Law, will go to 58 different projects across 44 states.

Stressed power grids need the money badly, both to prevent blackouts and bring more clean energy online. Weather disasters supercharged by climate change have already led to more power outages in the US. And President Biden has a goal of creating a 100 percent carbon pollution-free power sector by 2035, which will help the US keep commitments it made under the Paris climate agreement.

Stressed power grids need the money badly

“Much of [the grid] was built nearly a century ago…

Continue reading…

You May Also Like

Fibonacci Stock News

In the previous technical note, it was categorically mentioned that while the markets may attempt to inch higher, they may not form anything beyond...

Fibonacci Investing News

Chris Edwards Many American cities need more low‐​income housing, but governments reduce supply and raise construction costs with regulations, taxes, and bureaucracy. The Wall...

Fibonacci Tech News

Illustration by Alex Castro / The Verge The question of who gets to regulate crypto has some answers, as a judge has ruled the...

Fibonacci Tech News

Image: Brazil Climate Summit At the moment I arrived at the Brazil Climate Summit event, it felt like home to me. As I opened...