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US President Joe Biden has announced the biggest government funding move for rural electrification since the 1930s. $7.3 billion will go to 16 electric cooperatives in 23 states to build and expand clean energy, Biden said Monday.

The funds, which will come from the Inflation Reduction Act and are being awarded by the Department of Agriculture’s Empowering Rural America program, are meant to provide reliable electricity and create jobs in clean energy.

Biden introduced the investment initiative at a stop in Westby, Wisconsin, where he said about $580 million will go to the Dairyland Power Cooperative to develop solar and wind power as well as energy storage. Biden said the nonprofit co-ops were specifically targeted because, “They don’t have the same resources that private utility companies have to modernize their energy infrastructure. And for decades, they couldn’t access tax credits to make clean energy more affordable.”

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Source: CNET

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The movement to fully electrify our buildings and transportation sectors represents one of the best ways to decarbonize the American economy, but if we do not pursue the most cost-effective path, we could hit major potholes that slow down or derail our trek to net zero emissions.

With more and more electric vehicles on our roads every day, electricity demand is set to significantly grow, and not only that but higher peak demands could force trillions of dollars in grid infrastructure improvements. As we’ve seen with extreme weather leading to rolling blackouts just this past year, our electricity system even today is not equipped to handle increased electricity load, let alone what we expect from full scale electrification.

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Source: Utility Dive

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