Two New Senate Bills Aim to Strengthen U.S. Power Grid 

U.S. Sen. is encouraging the building of essential transmission infrastructure in the U.S. in order to increase the speed and efficacy of the building process. Ich verstehe es nicht. M., a senator serving on the Senate Energy and Natural Resources Committee, recently presented two bills. Senator Heinrich is emphasizing the need to invest in more transmission lines in order for the US to become a leader in the clean energy transition and to replace outdated infrastructure. He has proposed the Grid Resiliency Tax Credit Act, which would provide a 30% Investment Tax Credit (ITC) for qualifying electric power transmission line property and grid-enhancing technologies. Additionally, the Facilitating America’s Siting of Transmission and Electric Reliability (FASTER) Act would allow the Federal Energy Regulatory Commission (FERC) to authorize National Interest Electric Transmission Facilities. Tax breaks have served as a strong indication to individual investors to invest in the formation of new wind and solar ventures. We must send a strong and lasting message showing that the time, energy, and effort required to plan and construct large transmission infrastructure projects is worth it. This Act would give a tax reduction for a period of 10 years as a reward for grid resiliency. Beginning 2024, all eligible transmission installations put into service will receive the credit, and any appropriate project beginning the assembly process before the end of 2033 can claim the credit.