Duke Energy seeks $200 MILLION federal funds for ‘smart grid’

Thursday, August 6, 2009, 12:34pm EDT
Duke Energy seeks federal funds for ‘smart grid’
Business First of Louisville

Duke Energy Corp. Thursday applied for $200 million in federal infrastructure funds to develop a “smart grid” in Ohio, Indiana and Kentucky.

The company also has sought $14 million in federal funds for smart grid transmission lines in North Carolina and South Carolina.

The smart grid allows utilities, such as Duke, to send signals to specially equipped appliances over transmission lines. The signals allow the utilities to tell the appliances to operate using less power during peak consumption times.

The U.S. Department of Energy will award $4.5 billion in smart grid grants nationwide, funded through the American Recovery and Reinvestment Act of 2009.

Charlotte, N.C.-based Duke (NYSE: DUK) intends to transform its entire electricity-delivery infrastructure into a smart grid system, the company said in a news release.

If it receives the federal funds, Duke expects to complete the conversion in Ohio and Indiana by 2012. Duke soon will begin installing 700,000 smart electric meters at homes and businesses in Ohio, according to the release.

The utility is seeking approval from the Indiana Utility Regulatory Commission to install 800,000 smart electric meters in Indiana.

In addition to managing energy consumption by appliances, the new smart grid will prepare the electric grid for widespread use of plug-in electric vehicles, Duke said in the release.

Floyd, Clark, Harrison, Washington and Scott are among the counties Duke serves in Southern Indiana.