WASHINGTON, D.C. — ACORE appreciates Senator Heinrich’s introduction today of the Grid Resiliency Tax Credit Act, a clear example of his continued leadership in expanding our critical transmission infrastructure. We must dramatically expand and upgrade the U.S. grid to ensure reliability during severe weather events, create economic opportunities, and reduce electricity bills by connecting consumers to lower-cost diverse generation resources.

Our outdated grid is costing Americans every year in higher prices and in unnecessary outages. Expanding investment in well-planned, high-capacity transmission could save residential customers up to $10.4 billion per year.

Millions of customers lost power during Winter Storms Uri and Elliott, in part because when power plants failed, the grid couldn’t transmit the power from other regions to where it was needed. During Winter Storm Fern, by contrast, improved transmission prevented mass blackouts even as the Midwest experienced spiking power demand, demonstrating the benefits of transmission investment to American factories and families.

Modernizing the grid also creates jobs. Preliminary analysis from ACORE and Grid Strategies shows that a 30% investment tax credit could generate as many as one million American jobs building and maintaining transmission projects.

“We need to add enough electricity supply to our grid by 2030 to power New York City 15 times over. That pace of growth is unlike anything we’ve seen, and this bill is a constructive step toward preparing our grid to affordably and reliably deliver that power,” said ACORE President and CEO Ray Long.

“We at ACORE look forward to working across the aisles of Congress to deliver bipartisan solutions to grid modernization, permitting reform, and energy security.”

ACORE works to advance a stronger, more connected U.S. transmission network through our Macro Grid Initiative and its network of regional partners. Learn more about our work on our website.

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About ACORE  
ACORE is a nonpartisan nonprofit organization that operates at the intersection of affordability, reliability, and clean energy deployment. Our work is focused on stabilizing energy prices, strengthening the electric grid, and driving investment in cost-effective technologies to ensure that clean energy delivers for people, businesses, and the U.S. economy. 

ACORE’s membership includes clean energy investors, developers, energy buyers, power generators, manufacturers, and energy providers. Nearly 80% of the utility-scale domestic clean energy growth was financed, developed, owned, equipped, or contracted by ACORE members. For more information, visit www.acore.org.  

Media Contacts: 

Chris Higginbotham 
VP, Communications
higginbotham@acore.org  

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