Collapse to view only § 18715. Transmission facility financing
- § 18715. Transmission facility financing
- § 18715a. Grants to facilitate the siting of interstate electricity transmission lines
- § 18715b. Interregional and offshore wind electricity transmission planning, modeling, and analysis
§ 18715. Transmission facility financing
(a) Appropriation
(b) Use of funds
(c) LoansA direct loan provided under this section—
(1) shall have a term that does not exceed the lesser of—
(A) 90 percent of the projected useful life, in years, of the eligible transmission facility; and
(B) 30 years;
(2) shall not exceed 80 percent of the project costs; and
(3) shall, on first issuance, be subject to the condition that the direct loan is not subordinate to other financing.
(d) Interest rates
(e) Definition of direct loan
(Pub. L. 117–169, title V, § 50151, Aug. 16, 2022, 136 Stat. 2046.)
§ 18715a. Grants to facilitate the siting of interstate electricity transmission lines
(a) Appropriation
(b) Use of funds
(1) In generalThe Secretary may make a grant under this section to a siting authority for, with respect to a covered transmission project, any of the following activities:
(A) Studies and analyses of the impacts of the covered transmission project.
(B) Examination of up to 3 alternate siting corridors within which the covered transmission project feasibly could be sited.
(C) Participation by the siting authority in regulatory proceedings or negotiations in another jurisdiction, or under the auspices of a Transmission Organization (as defined in section 796 of title 16) that is also considering the siting or permitting of the covered transmission project.
(D) Participation by the siting authority in regulatory proceedings at the Federal Energy Regulatory Commission or a State regulatory commission for determining applicable rates and cost allocation for the covered transmission project.
(E) Other measures and actions that may improve the chances of, and shorten the time required for, approval by the siting authority of the application relating to the siting or permitting of the covered transmission project, as the Secretary determines appropriate.
(2) Economic development
(c) Conditions
(1) Final decision on application
(2) Federal share
(3) Economic developmentThe Secretary may only disburse grant funds for economic development activities under subsection (b)(2)—
(A) to a siting authority upon approval by the siting authority of the applicable covered transmission project; and
(B) to any other State, local, or Tribal governmental entity upon commencement of construction of the applicable covered transmission project in the area under the jurisdiction of the entity.
(d) Returning funds
(e) DefinitionsIn this section:
(1) Covered transmission projectThe term “covered transmission project” means a high-voltage interstate or offshore electricity transmission line—
(A) that is proposed to be constructed and to operate—
(i) at a minimum of 275 kilovolts of either alternating-current or direct-current electric energy by an entity; or
(ii) offshore and at a minimum of 200 kilovolts of either alternating-current or direct-current electric energy by an entity; and
(B) for which such entity has applied, or informed a siting authority of such entity’s intent to apply, for regulatory approval.
(2) Siting authority
(Pub. L. 117–169, title V, § 50152, Aug. 16, 2022, 136 Stat. 2046.)
§ 18715b. Interregional and offshore wind electricity transmission planning, modeling, and analysis
(a) Appropriation
(b) Use of fundsThe Secretary shall use amounts made available under subsection (a)—
(1) to pay expenses associated with convening relevant stakeholders to address the development of interregional electricity transmission and transmission of electricity that is generated by offshore wind; and
(2) to conduct planning, modeling, and analysis regarding interregional electricity transmission and transmission of electricity that is generated by offshore wind, taking into account the local, regional, and national economic, reliability, resilience, security, public policy, and environmental benefits of interregional electricity transmission and transmission of electricity that is generated by offshore wind, including planning, modeling, and analysis, as the Secretary determines appropriate, pertaining to—
(A) clean energy integration into the electric grid, including the identification of renewable energy zones;
(B) the effects of changes in weather due to climate change on the reliability and resilience of the electric grid;
(C) cost allocation methodologies that facilitate the expansion of the bulk power system;
(D) the benefits of coordination between generator interconnection processes and transmission planning processes;
(E) the effect of increased electrification on the electric grid;
(F) power flow modeling;
(G) the benefits of increased interconnections or interties between or among the Western Interconnection, the Eastern Interconnection, the Electric Reliability Council of Texas, and other interconnections, as applicable;
(H) the cooptimization of transmission and generation, including variable energy resources, energy storage, and demand-side management;
(I) the opportunities for use of nontransmission alternatives, energy storage, and grid-enhancing technologies;
(J) economic development opportunities for communities arising from development of interregional electricity transmission and transmission of electricity that is generated by offshore wind;
(K) evaluation of existing rights-of-way and the need for additional transmission corridors; and
(L) a planned national transmission grid, which would include a networked transmission system to optimize the existing grid for interconnection of offshore wind farms.
(Pub. L. 117–169, title V, § 50153, Aug. 16, 2022, 136 Stat. 2048.)