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Obama to Name 'Smart Grid' Projects
The Obama administration is expected Tuesday to name 100 utility projects that will share $3.4 billion in federal stimulus funding to speed deployment of advanced technology designed to cut energy use and make the electric-power grid more robust.
When combined with funds from utility customers, the program is expected to inject more than $8 billion into grid modernization efforts nationally, administration officials said.
"We have a very antiquated system that we need to upgrade," said Carol Browner, energy coordinator for the Obama administration.
The Department of Energy said grants of $400,000 to $200 million will lead to the installation of at least 18 million advanced digital meters, which should bring the nation's total to about 40 million, or enough to cover one-quarter to one-third of U.S. homes.
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