A federal agency has announced a $200 million for a new electric system in the Carolinas and Florida.
Environmental Protection Agency Administrator Lisa P. Jackson made the announcement alongside Lt. Gov. Walter Dalton at a news conference Thursday in Raleigh.
The grant will fund equipment upgrades through Progress Energy. The Raleigh-based utility will contribute an additional $300 million and install 160,000 smart meters.
President Barack Obama announced on Tuesday $3.4 billion in federal funding for 100 projects aimed at modernizing the power grid. The projects include installing better electric meters in homes and installing thousands of new digital transformers and grid sensors.
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