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Incentives for Modernizing the Power Grid: Efficiency and Reliability Boost.

This law creates financial incentives for companies that invest in advanced technologies designed to boost the efficiency and reliability of the national power grid. By sharing a portion of the resulting cost savings with developers, the goal is to encourage faster modernization, potentially leading to more stable electricity supply and lower long-term costs for consumers. The law also mandates public reporting on grid congestion costs to increase transparency.
Key points
Companies installing grid-enhancing technologies (GETs) will receive a shared savings incentive, returning 10% to 25% of the generated savings over a 3-year period.
Eligibility requires that the expected savings must be at least four times the cost of the investment, ensuring consumer protection against low-value projects.
Federal agencies must create and publicly update a map detailing the costs associated with power grid congestion across the country, improving transparency and planning.
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Expired
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Additional Information
Print number: 118_S_3918
Sponsor: Sen. Welch, Peter [D-VT]
Process start date: 2024-03-12
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Advancing GETs Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3918.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-03-12.

What are the main provisions?

Key points include:

  • Companies installing grid-enhancing technologies (GETs) will receive a shared savings incentive, returning 10% to 25% of the generated savings over a 3-year period.
  • Eligibility requires that the expected savings must be at least four times the cost of the investment, ensuring consumer protection against low-value projects.
  • Federal agencies must create and publicly update a map detailing the costs associated with power grid congestion across the country, improving transparency and planning.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Welch, Peter [D-VT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Public Investments