National Hydropower Association Applauds Historic Investment in Nation’s Water Power Industry
Washington, DC – The National Hydropower Association, America’s premiere trade association for the water power industry, applauded the Biden Administration’s pledge of nearly $72 million dollars to improve the efficiency of existing hydroelectric facilities across the country.
Today, the Department of Energy (DOE) announced that 46 hydroelectric projects in 19 states will receive $71.5 million in incentive payments as part of a program to strengthen the U.S. hydropower fleet. DOE touts it as ‘the largest single investment to support America’s hydropower facilities.” Additionally, the incentive payments will result in an average 14% in efficiency gains over current operations. The funding is available through the Bipartisan Infrastructure Law, which became law in 2021.
“I send my sincere thanks to President Biden, DOE Secretary Granholm, our hydro champions in Congress, and all other stakeholders for helping to secure this critical funding for our industry,” said Malcolm Woolf, NHA’s President and CEO. “A 24/7 reliable, clean energy grid requires the baseload flexibility provided by water power. That’s why NHA has been working diligently, through our ‘Uncommon Dialogue’ collaboration with industry, environmental groups and Tribal Nations, to ensure hydro was rightfully valued in this landmark law.”
“However, our work is not yet done,” Woolf added. “The funding secured is still only a fraction of the $192 million that was requested from all applicants to this program, which demonstrates a clear need for additional federal funding. We urge the administration to keep up this positive momentum and commit to funding this critical program in the years ahead. Continued investment will help maximize existing hydropower – America’s first renewable energy source – and help meet our entire nation’s climate goals.”
The list of projects can be found here.
