🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

NV Energy gets $2 million grant for grid technology

EditorAmbhini Aishwarya
Published 11/16/2023, 12:17 AM
© Reuters.
NVE
-

NV Energy, a Nevada-based utility company, has been awarded a $2 million grant to enhance the electricity grid's efficiency and reliability through advanced sensor technology and real-time monitoring systems. This grant is part of a larger $8.4 million funding initiative from the Department of Energy (DOE) aimed at modernizing the nation's power grid and achieving a transition to 100% clean energy by 2035.

The project, led by Josh Langdon, vice president of Transmission at NV Energy, is titled "Direct and Indirect Contact DLR Technologies; Digital Twin Technologies for Increasing Transmission Capacity and Reducing Congestion Without Reconductoring." It will be conducted over three years in collaboration with the University of Nevada, Reno's engineering department, and other partners. The focus of the research is to evaluate and potentially expand the capacity of existing power lines, with an emphasis on integrating renewable energy sources.

The DOE's Office of Electricity and the Office of Energy Efficiency and Renewable Energy have contributed $6.8 million and $1.5 million, respectively, to the funding pool. Other recipients include entities such as Georgia Tech Research Corporation, Pitch Aeronautics Inc., and the University of Connecticut.

Assistant Secretary for Electricity Gene Rodrigues from the DOE expressed the overarching ambition to modernize America's grid infrastructure. NV Energy's initiative aims to maximize current transmission infrastructure usage, which could help avoid expensive upgrades or new construction projects. This approach is expected not only to lower electricity costs for consumers but also stimulate job creation in the clean energy sector in Nevada and beyond.

Langdon praised this significant advancement, reiterating NV Energy's dedication to delivering reliable, affordable, and sustainable energy solutions. He anticipates that these grid-enhancing technologies will lead to effective cost management while ensuring system reliability.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.