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California Public Utilities PG&E (New York Stock Exchange:PCG) and Southern California Edison (EIX), along with state energy agencies, said Thursday they are applying for a $2 billion grant from the U.S. Department of Energy to increase grid capacity and supply renewable energy . while reducing costs for consumers.
If approved, the companies said the grant would “improve electric transmission capacity across the state, boosting supply, reducing renewable energy curtailment, and reducing costs incurred when there is insufficient capacity…which would reduce costs for customers.
The request comes as California's main grid operator tries to deal with a large backlog of applications from wind, solar and battery storage developers who want to connect to the state's power grid, a backlog that threatens efforts to meet the state's goal of ensuring 100% of its energy from clean sources by 2045.
The Department of Energy's Grid Innovation and Resiliency Partnerships program is administering $10.5 billion in grants to improve grid flexibility and resiliency.
