1. The Advancing Grid Enhancing Technologies (GETs) Act has been introduced in the US to boost investments in these technologies.
2. The legislation requires the Federal Energy Regulatory Commission to establish a shared savings incentive for GETs by July 2025.
3. Some individual states have already started acting on GETs, with studies underway in Illinois and New York and legislation being advanced in states like Minnesota and Virginia.
The Advancing Grid Enhancing Technologies (GETs) Act has been introduced in the US by a group of Senators and Representatives to promote investments in these technologies. The Act proposes a shared savings incentive for developers of GETs, which would return a portion of the savings from the investment to the developer and customers. It also includes an annual reporting requirement on congestion costs and directs the Department of Energy to provide technical assistance for GETs projects.
Senator Peter Welch believes that the Act is crucial for achieving a clean energy transition and expanding transmission capacity in the US. The Act aims to motivate grid operators and developers to invest in cost-saving technologies and help the country reach its clean energy goals. The proposal for such incentives was first made in 2020 by industry associations, and this Act builds on that initial suggestion.
Individual states like Illinois, New York, Minnesota, and Virginia are already taking steps to evaluate and implement grid enhancing technologies. These technologies include dynamic line rating, advanced power flow control, and topology optimization, which improve the capacity, efficiency, and reliability of the existing grid. The Act aims to drive innovation in this area and unlock capacity and flexibility in the transmission grid.