TL/DR –
The BIG WIRES Act, proposed in the U.S., would require each region of the country to increase the amount of electricity it exchanges with neighboring regions. According to researchers from MIT, the Act would not entail any costs for the federal government or taxpayers as utilities and transmission developers would fund the upgrades, and could save the country between $330 million and $2.5 billion per year, reducing climate pollution by about 73 million tons of carbon dioxide per year. The Act would also lessen the likelihood of power blackouts, as demonstrated by an estimation that Winter Storm Elliott in 2022 would have resulted in 58% fewer blackouts in the eastern states if the BIG WIRES Act was in effect.
The BIG WIRES Act: A Triple Win for Energy Transmission
In a recent CCL virtual lobbying event, the BIG WIRES Act was the primary focus. Congressional offices asked about its impact on utility costs, climate pollution, and regional effects.
Unknown at the time, MIT researchers have since analyzed the BIG WIRES Act. Concurrently, Vanderbilt University scientists published a study on the Inflation Reduction Act’s home electrification incentives, and updated on the bill’s rebates for low- and middle-income households.
Advantages of the BIG WIRES Act
The BIG WIRES Act would mandate regional increases in electricity exchange without costing taxpayers. Utilities and transmission developers would fund these updates but would gain from importing cheap clean electricity, thus reducing local infrastructure requirements.
According to MIT researchers, the BIG WIRES Act could save the US between $330 million and $2.5 billion per year. Regions with abundant transmission connections would need little modifications while others could save billions by importing clean electricity. Furthermore, some could profit from increased solar and wind power production.
The report suggests the Act could reduce climate pollution by approximately 73 million tons of carbon dioxide annually. The study also indicates a significant reduction in power blackouts under similar conditions to Winter Storm Elliott of 2022.
Updates on Home Electrification and Efficiency
The Vanderbilt study analyzed the Inflation Reduction Act and bipartisan infrastructure bill’s household incentives. Heat pumps and electric cars could account for 40% of potential emissions reductions. The Department of Energy reports that four states are nearing completion of rebate programs for home electrification and efficiency measures, with more states to follow.
What’s Next?
Key congressional offices continue negotiations on a bipartisan comprehensive permitting reform bill likely to include the BIG WIRES Act. Upcoming CCL’s conservative conference will focus on reform opportunities and the BIG WIRES Act. As home electrification rebates become available, CCL chapters will inform their communities of these key incentives.
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