Exelon applies for nearly $700M in federal funding for 10 infrastructure projects
With money on the table from the Infrastructure Investment and Jobs Act (IIJA), Exelon finalized applications this week for 10 projects seeking to gain access to nearly $700 million of the associated Smart Grid and Grid Resilience grants for clean energy infrastructure.
When it was enacted, the IIJA put up $1.2 trillion in infrastructure funding meant to push forward resilience in infrastructure and aid the clean energy transition. The grants mentioned here are on offer from the Department of Energy (DOE) as part of those efforts, with a focus on building grid flexibility and power system resiliency.
“As an energy company serving a diverse customer base, Exelon prioritizes equity in all its decisions, and it is encouraging having policies and regulation at the federal level reflect that importance,” Exelon President and CEO Calvin Butler said. “Exelon already is investing $31 billion in capital over the next four years to benefit our customers. However, if these projects are chosen for federal funding, we can make even more meaningful progress creating equitable access to clean energy and clean transportation, improving resilience, and helping our more than 10 million customers make more informed energy decisions throughout dozens of under-resourced communities.”
Exelon sought funding for proposed projects such as a community innovation hub, community microgrids, smart meters, and grid resilience improvements for under-served communities. Such communities include major cities and their surrounding areas, including Baltimore, Chicago, Philadelphia, and parts of Delaware, New Jersey, and Washington, D.C.
The company said its efforts would not only help to further decarbonize the industry and reduce air pollution but help open opportunities across the country, particularly in areas historically subject to disproportionate economic burdens and the effects of climate change.
