The US Department of Energy (DOE) announced approximately $600 million to improve hydroelectric power and expand marine energy across the country as part of President Biden’s Investing in America initiative.
The Department of Energy is now taking applications for the Maintaining and Enhancing Hydroelectricity Incentives, which will give up to $554 million in incentive payments financed by the Bipartisan Infrastructure Act for the maintenance and enhancement of hydroelectric facilities.
This money will assist generators in continuing to supply clean, cheap electricity while incorporating more renewable energy resources and decreasing environmental impacts.
The Department of Energy has announced an additional $45 million funding opportunity, also financed by the Bipartisan Infrastructure Act, to support a pilot demonstration site and community-led tidal and/or current energy project in the United States.
These agreements reflect the Department of Energy’s largest-ever investments in both hydropower and marine energy, and will play a critical role in realizing President Biden’s goal of 100% clean electricity by 2035 and a net-zero-emissions economy by 2050.
“Water power, the nation’s oldest source of renewable energy, is an integral tool to fight against climate change,”U.S. Secretary of Energy Jennifer M. Granholm. “President Biden’s Investing in America agenda provides historic funding that will expand and modernize water power technologies, ensuring a steady flow of reliable power to more Americans.”
Hydropower presently accounts for 6% of total electricity output in the United States, 32% of renewable-energy generation, and 93% of all utility-scale energy storage.
However, the fleet is elderly, with many facilities in need of repair and modifications, and just about 3% of the country’s more than 90,000 dams now produce power.
The addition of generation equipment to these sites could contribute up to 12 gigatonnes of new hydropower capacity to the US electric grid, which is enough to power 4.8 million households.
Maintaining and Enhancing Hydroelectricity Incentives Program
Existing qualifying hydroelectric facilities can now apply for up to $553.6 million in incentives through the Maintaining and Enhancing Hydroelectricity Incentives.
The initiative, which is managed by the DOE’s Grid Deployment Office, is intended to improve existing hydropower and pumped storage facilities for capital improvements directly connected to grid resilience, dam safety, and environmental improvements.
Potentially eligible capital improvements include improvements that allow for the integration of variable resources such as wind and solar; dam safety improvements such as spillway upgrades and erosion repair; and environmental improvements such as fish passage, water quality, and recreation.
As part of President Biden’s Investing in Americaagenda, the U.S. Department of Energy (DOE) announced nearly $600 million to modernize hydroelectric power and advance marine energy throughout America
The deadline for submitting letters of intent to submit full applications under the Maintaining and Enhancing Hydroelectricity Incentives is June 22, 2023, at 5:00 p.m. ET. Full applications must be submitted by October 6, 2023.
Prospective applicants must first submit a Letter of Intent via the Clean Energy Infrastructure Funding Opportunity eXCHANGE in order to be eligible to submit a full application. On Wednesday, May 24, 2023, at 1:00 p.m. ET, a public webinar will be held to allow the public to ask clarifying questions about the application guidelines.
Advancing Tidal Energy
Tidal and current marine energy systems convert the energy in the natural movement of oceans and rivers into clean electricity.
Tides and currents are quite predictable, which means they might assist balance other renewable energy sources and play a significant role on a 100% clean energy grid.
The DOE’s new $45 million grant opportunity will be the country’s first large-scale investment in a tidal and/or current energy research, development, and demonstration site. It will also help a community-led tidal project and/or an ongoing energy planning and development effort.
This funding will help the United States maintain its leadership in tidal and current energy development while also fulfilling community energy needs and developing the sector’s supply chain and workforce.
This opportunity covers two topics. One will provide up to $35 million to help establish a pilot tidal and/or current energy technology demonstration site in state waterways.
Concept papers for this topic area are due on June 5, 2023, at 5 p.m. ET. In addition, the DOE will provide up to $10 million to a community-led tidal and/or current energy planning and development initiative.Concept papers for this topic area are due on July 13, 2023, at 5 p.m. ET.
Source: US Department Of Energy
