The New York Independent System Operator (NYISO), the non-profit organization that oversees the wholesale market of electrical power in the state, is announcing plans [PDF] for a $74 million smart grid project that is backed by the U.S. Department of Energy (DOE).
A $37 million grant from the DOE is helping propel the roll out of smart grid technology in the region, as is $45 million being borrowed from the New York State Public Service Commission, which is going toward the building of a new $35 million power control center. Together, the initiatives claim to create 20 permanent jobs and several hundred temporary construction jobs.
Officials say the new smart grid and control center will help the state embrace more renewable resources like solar and wind, as well as help with storage issues, and ultimately save New York $190 million each year due to efficiencies.
Eventually, NYISO would like to connect and share usage data with other electricity networks in the eastern region and Canada, which could help avoid potential outages like the one in New York City and other parts of both countries in the summer of 2003, which affected up to 55 million people.