Honolulu receive more than $5 million for electrical grid upgrades - Hawaii News Now - KGMB and KHNL

Honolulu receives more than $5 million for electrical grid upgrades

President Barack Obama President Barack Obama

WASHINGTON (HAWAIINWESNOW) - Honolulu will receive more than $5 million to upgrade its electrical grid as part of an effort to reduce outage times, expand the energy efficient skill sets of employees, and retain jobs Senators Daniel K. Inouye and Daniel K. Akaka announced today.

"We've all experienced the chaos created by power outages, both big and small, and these funds will help modernize Oahu's aging electrical grid," said Senator Inouye.

"These improvements should move us closer to a time when we aren't sitting in the dark very long when the grid goes down. "This Recovery Act funding will allow Hawaiian Electric to invest in modern electrical grid improvements that will reduce power outages on Oahu while preserving jobs," said Senator Akaka.

The Hawaiian Electric Company Inc. will receive the funds from the federal government. President Barack Obama announced Tuesday morning that every state except Alaska will receive a portion of a $3.4 billion federal investment in Smart Grid technology.

This is the largest single Smart Grid modernization investment in U.S. history, funding a broad range of projects that will ease the nation's transition to a smarter, stronger, more efficient and reliable electric system. The $3.4 billion is part of the American Reinvestment and Recovery Act and will be matched by industry funding for a total public-private investment worth over $8 billion.

An analysis by the Electric Power Research Institute estimates that the implementation of smart grid technologies could reduce electricity use by more than 4 percent by 2030. That would mean a savings of $20.4 billion for businesses and consumers around the country.

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