Progress Energy has accepted a $200 million U.S. Department of Energy (DOE) grant awarded as part of the 2009 federal stimulus package. The funds will be used by the company's two utilities for investments in equipment, systems, technologies and communication infrastructure that will add "intelligence" to the systems used to deliver electricity to more than 3.1 million households and businesses in the Carolinas and Florida. In addition to providing the utilities real-time information about the state of their electric grids, the smart grid transition will enable customers to better understand and manage their energy use, and will provide for more efficient integration of renewable energy resources.
Supplementing the DOE grant, Progress Energy's two utilities will invest more than $300 million in smart grid projects.
