White House announces $13 bln in funding to modernize power grids

The White House announced through the U.S. Department of Energy (DOE) on Friday $13 billion in new financing for the expansion and modernization of the country's electric grid.

President Joe Biden's Bipartisan Infrastructure Law provides $10.5 billion to improve power systems against growing threats like extreme weather and climate change, the DOE said, and a further $2.5 billion to help build new transmission lines.