Smart Grid is a Money Saver?

The White House published: A POLICY FRAMEWORK FOR THE 21st CENTURY GRID: Enabling Our Secure Energy Future this month, The stated goals are:

• Facilitating and enabling a clean energy economy with significant use of renewable energy, distributed energy resources, electric vehicles, and electric storage;

• Creating an electricity infrastructure that saves consumers money through greater energy efficiency, as well as supporting the more reliable delivery of electricity; and

• Enabling technological innovation that creates jobs of the future and new opportunities for empowering consumers to use energy wisely and reduce their energy bills

Lets look at the “savings” this Smart Grid will afford us. Excerpt from the report –

The American Recovery and Reinvestment Act of 2009 (Recovery Act) (U S Congress 2009) accelerated the development of smart grid technologies, investing $4.5 billion for electricity delivery and energy reliability activities to modernize the electric grid and implement dem- onstration and deployment programs (as authorized under Title XIII of EISA)

Excerpt from Title XIII of EISA –

SEC. 1306. FEDERAL MATCHING FUND FOR SMART GRID INVESTMENT COSTS.

(a) MATCHING FUND.—The Secretary shall establish a Smart Grid Investment Matching Grant Program to provide reimbursement of one-fifth (20 percent) of qualifying Smart Grid investments.

So the $4.5 Billion of our Tax monies will reimburse 20% of the New Smart Grid (for the qualifying investments)? Who will pay the other 80+%? Assuming the $4.5 B. covers the full 20%, that would ONLY be $18 Billion we need to come up with. If the Utility companies front us the money for this SMART upgrade,  How many years will it take to pay them off, at what percent interest?

Saving consumers money???

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