CHICAGO — Exelon (Nasdaq: EXC) today marked a milestone in the company’s efforts leading the energy transformation, finalizing its applications to bring federal funds through the bipartisan Infrastructure Investment and Jobs Act (IIJA) to the communities the company serves. The opportunities put forth through the Department of Energy’s (DOE) Smart Grid and Grid Resilience Grants will significantly improve grid resilience and readiness for clean energy infrastructure.
“As an energy company serving a diverse customer base, Exelon prioritizes equity in all its decisions, and it is encouraging having policies and regulation at the federal level reflect that importance,” said Calvin Butler, Exelon president and CEO. “Exelon already is investing $31 billion in capital over the next four years to benefit our customers. However, if these projects are chosen for federal funding, we can make even more meaningful progress creating equitable access to clean energy and clean transportation, improving resilience, and helping our more than 10 million customers make more informed energy decisions throughout dozens of under-resourced communities.”
IIJA is a once-in-a-generation $1.2 trillion bipartisan infrastructure funding opportunity focused on building resilient infrastructure, accelerating an equitable, clean energy transition and creating good-paying jobs in communities. Exelon’s IIJA investment opportunities reflect the intersection of federal priorities, state objectives and Exelon’s commitment to ensure a clean energy future is accessible to all communities.
More specifically, proposed projects include a community innovation hub, battery-backed community microgrids, deployment of smart meters and improving grid resilience in under-resourced communities. Communities that would benefit from the projects include Baltimore and nearby suburbs, Chicago and Northern Illinois, the Greater Philadelphia region, parts of Delaware and New Jersey, and Washington, D.C.
As part of IIJA, the DOE is administering billions in funding to enhance grid flexibility and power system resiliency against growing threats. Exelon’s project portfolio will help the company continue its leadership in the energy transition by delivering clean, reliable and affordable energy to all customers, committing to economywide decarbonization, and engaging and investing in the communities it serves.
Specific potential benefits include:
These projects have the potential to create opportunities across the value chain and ensure an equitable and sustainable energy future, specifically in areas historically subject to disproportionate economic burden and negative effects of climate change. In addition, these projects would further Exelon’s goal to decarbonize industry and reduce air pollution throughout its communities.
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