Bill > HR2703

This bill establishes a framework to incentivize and support the development and deployment of grid-enhancing technologies (GETs), which are hardware or software solutions designed to improve the capacity, efficiency, reliability, and safety of electrical transmission systems. The bill requires the Federal Energy Regulatory Commission (FERC) to create a shared savings incentive program that would allow technology developers to recoup between 10-25% of the savings generated by their grid-enhancing technologies over a three-year period. To qualify for this incentive, the technology must generate expected savings at least four times its installation cost. The bill also mandates annual reporting from transmission facility operators about congestion management costs, requiring them to detail specific constraints and their associated expenses. Additionally, the Secretary of Energy must develop an application guide to help utilities and developers understand and implement grid-enhancing technologies, including establishing a clearinghouse of project information and providing technical assistance. The shared savings incentive will be evaluated between 7-10 years after implementation to determine its effectiveness and alignment with existing transmission planning requirements. The bill aims to encourage innovation in electrical grid technology and improve overall grid performance and efficiency.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2703/all-info