Wednesday, October 27, 2009

Washington, D.C. – Congresswoman Dina Titus of Nevada’s Third District applauded the announcement today that NV Energy, Inc. will receive $138 million through the American Recovery and Reinvestment Act for smart grid technologies.  The money is part of a $3.4 billion investment through the Recovery Act that will be matched by industry funding for a total public-private investment of more than $8 billion.

“This significant investment in smart grid technologies in Nevada will help lower energy bills and reduce consumption by empowering consumers to make smart choices about their energy use,” Congresswoman Titus said.  “In addition to securing and strengthening our energy supply, upgrading our energy infrastructure will jumpstart job creation across a number of sectors while spurring growth in Nevada’s growing renewable energy industry.”

With NV Energy providing $160 million in matching funds, a total of $298 million will go toward integrating smart grid technologies that focus on dynamic pricing, customer communications and in-home networks, grid monitoring, distribution automation, distributed renewables, electric vehicles, and the installation of a network of 1.45 million smart meters.  An analysis by the Electric Power Research Institute estimates that the implementation of smart grid technologies could reduce electricity use by more than 4 percent by 2030, saving $20.4 billion for businesses and consumers.

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Tags: energy, jobs, Recovery and Reinvestment Act