Vice President Joe Biden announced plans Thursday that the Obama administration will spend $4 billion from the stimulus package to update the nation's electrical grid.
Most of the money will be spent on projects to develop "a smart strong and secure electrical grid," which he said will also "create new jobs and help deliver reliable power more effectively with less impact on environment."
Biden announced power company leaders will meet in Washington in early May to begin talks about developing "industry wide standards" for the grid. Their staffs will meet later in the month to make progress on the standards' agreement.
The government wants demonstration projects in three areas: one to quantify smart grid costs and benefits; one to demonstrate energy storage methods and one that allows electricity flows in real time.
The Vice President made the announcement will visiting the ABB Transformer Factory in Jefferson City, Missouri.
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