Investments from the Inflation Reduction Act are helping improve transmission infrastructure across the nation. These historic investments are plugged into your life and shaping how energy infrastructure will meet the growing demands for electricity.
August 16, 2024
minute read time
Supercharging Grid Deployment and Economic Development
Plugging into the transformative deployment of transmission infrastructure and building a more resilient power grid that provides reliable electricity when and where it is needed most is an exciting job! At the Grid Deployment Office (GDO), we are flipping the switch on our nation’s aging infrastructure by advancing transmission solutions that can meet the increasing demand for electricity while sparking economic growth and transforming communities across the country.
Through the historic Inflation Reduction Act (IRA), these investments are an opportunity to create good-paying jobs, revitalize communities, improve health, lower energy bills, and increase energy independence for the United States. GDO oversees approximately $2.9 billion in Inflation Reduction Act funding to support transmission siting and economic development, facility financing, offshore wind transmission planning and analysis, and environmental reviews.
The Transmission Siting and Economic Development (TSED) Grant Program is a $760 million investment through the Inflation Reduction Act designed to advance critical transmission projects by accelerating siting and permitting while supporting economic development efforts in communities impacted by transmission construction and operation.
The Transmission Facility Financing (TFF) Program provides direct loans for eligible transmission projects within a National Interest Electric Transmission Corridor (NIETC). The Inflation Reduction Act appropriated $2 billion which may cover the credit subsidy cost of those loans, unlocking billions in total loan volume under the program.
Development of strategic offshore wind transmission, for which GDO has $100 million in IRA funding, will help support delivering affordable power to communities from wind resources being captured off the coasts of the United States. To realize the enormous potential of our nation’s offshore wind, proactive transmission planning and development will be needed alongside meaningful collaboration with partners and stakeholders.
Environmental reviews also play a key role in advancing a better grid, and GDO shares Inflation Reduction Act funds with multiple U.S. Department of Energy offices to execute this important work.
Plugged Into Making a Difference
Investments from the Inflation Reduction Act are helping improve transmission infrastructure across the nation. Whether it’s charging your phone or turning on the lights in your home, these historic investments are plugged into your life and shaping how energy infrastructure will meet the growing demands for electricity. Here's how:
Advancing offshore wind energy is key to boosting domestic energy production in coastal areas. But we can’t build a robust offshore wind industry without a transmission system to move the electricity from where it is generated to where it is needed most. GDO's offshore wind transmission planning and support work includes coastal studies, convening series to collaborate on strategies, action plans to address challenges, and analysis to gather information and identify gaps.
To expedite the build out of a resilient and reliable electric grid, GDO announced the selection of 20 projects across 16 states to receive up to $371 million under the Transmission Siting and Economic Development program. These investments will accelerate the permitting of high-voltage, interstate transmission projects, help deliver reliable energy to consumers, boost economic development, create good-paying jobs, and support community infrastructure projects along major new and upgraded transmissions lines, including upgrading public school buildings and emergency response facilities.
To advance the development of transmission projects in areas that present an urgent need for expanded transmission, GDO announced public input and minimum eligibility criteria for direct loans under the Transmission Facility Financing program for eligible transmission projects within a NIETC. Earlier this year, we completed a public input period on the scope of eligible projects and project financing requirements, including feedback from utilities and project developers that are interested in seeking direct loan support through the program for a specific project in or near one of the potential NIETCs.
Powering Innovation
Investments through the Inflation Reduction Act are powering up transmission to improve how power is delivered where and when it is needed. A modern power grid with innovative technologies means better grid reliability and resilience.
Want to learn more about what we've accomplished this year? Check out GDO’s accomplishments and DOE’s Infrastructure Progress Updates for more information. Stay plugged in with us as we continue to share the powerful work happening across the Grid Deployment Office by subscribing to our blogs and connecting with us on Facebook and LinkedIn.