Bangor Hydro seeks stimulus funds for Smart Grid
Bangor Hydro Electric Co. today said it has applied for federal stimulus dollars to help fund its proposed $8.8 million Smart Grid project.
Bangor Hydro requested $4.3 million in grant funding for the project, which the company says will conserve energy and lower electricity bills for its customers. Bangor Hydro, owned by Halifax, N.S.-based Emera Inc., says the funds would help it accelerate plans to equip its customers with the tools and information to make better-informed decisions about their electricity consumption and how to better manage their total energy bills. Customers would be able to view their electricity usage through a website or in-home display system and manage costs by lowering electricity consumption during peak pricing time periods.
The U.S. Department of Energy will award more than $3 billion in a competitive process for Smart Grid investments. If approved, Bangor Hydro's project is expected to be completed over the next three years.
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