Biden Administration Allocates Funding to Hydropower Development
Hydropower remains key player in power generation in U.S. currently accounting for 31.5% of renewable electricity generation and about 6.3% of total U.S. electricity
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The U.S. Department of Energy (DOE) announced that the Biden administration had allocated $28 million from the Bipartisan Infrastructure Law for research and development (R&D) projects that will advance and preserve hydropower as a critical source of clean energy. This Notice of Intent (NOI) will offer three funding opportunities this fall to support research, development, and deployment of hydropower, including pumped storage hydropower, which can play a key role in integrating variable renewable energy sources on the electric grid. The funds are intended to help the U.S. move closer to the administration's goal of net-zero emissions from the U.S. power sector by 2035 and a fully net-zero economy by 2050.
While the large majority of active renewable energy projects in the U.S. are for wind and solar power, hydropower remains a key player in power generation in the country, currently accounting for 31.5% of U.S. renewable electricity generation and about 6.3% of total U.S. electricity generation. DOE's Hydropower Vision report found U.S. hydropower capacity could expand by nearly 50% by 2050. Pumped storage hydropower accounts for 93% of U.S. utility-scale energy storage, helping ensure power is available whenever homes and businesses need it.
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