LineVision Statement on the signing of the Infrastructure Investment and Jobs Act into law by President Biden
Today, President Biden signed the Infrastructure Investment and Jobs Act into law. This historic legislation allocates $65 billion in funding for long-overdue power grid and infrastructure improvements that are aimed at supporting the modernization of our nation’s electric grid. The funding outlined in this bipartisan law will help our country meet important energy transition goals while creating a stronger, more resilient grid.
The need to expand and modernize transmission assets has never been greater. A recent Princeton study showed that grid capacity will need to double by 2035 for a zero net carbon grid and triple by 2050 to support the electrification of transportation, buildings, and industry. It is not just a larger grid that is required, but one that can withstand increasingly extreme weather events. Wildfires in the West, winter storm Uri in Texas, and Hurricane Ida in Louisiana have cost our nation billions in damages while highlighting the fragility of our aging infrastructure.
Fortunately, a new era of grid infrastructure investment has begun; one which leverages advanced sensors, batteries, and analytics to increase the capacity, flexibility, and resilience of the grid we already have. LineVision applauds this commitment by Congress and the president to help our industry accelerate these efforts. We are eager for a continued partnership to ensure the grid has the capacity, flexibility, and resilience needed for generations of Americans to come.