Statement by LineVision Regarding the Inflation Reduction Act
Statement by LineVision Regarding the Inflation Reduction Act
Boston, MA, August 16, 2022
Today, President Biden signed the Inflation Reduction Act (IRA) into law, marking this country’s most ambitious climate policy to date. The law injects significant capital and incentives to address climate change, providing the certainty needed to continue the growth of the clean energy industry. We applaud Congress and the President for working to pass the IRA and take an important step towards a net zero grid.
To ensure the IRA is fully realized, however, we must get to work on the backbone of the energy transition: the electric grid. By many accounts, we need to double the size of the existing power grid if we are to accommodate the renewable energy assets required to meet our nation’s climate goals. And we need to accomplish this before 2030. We are pleased that once again Congress has specifically identified Grid-Enhancing Technologies (GETs) as an important solution for clean energy integration. Building new transmission and maximizing the efficiency of the existing grid by implementing GETs must be our next priority.
The IRA comes on the heels of the Infrastructure Investment and Jobs Act (IIJA), the largest investment in clean energy infrastructure in American history. With the additional renewable energy development anticipated from the IRA, we are eager to see utilities utilize IIJA funding to ensure the grid is ready for these resources to come online. We know from various studies that GETs like LineVision’s dynamic line rating solution, LineRate, can double renewable energy capacity on existing transmission infrastructure.
As we celebrate the IRA, there is a lot of work left to do. LineVision is committed to continuing to work with leading electric utilities and other industry stakeholders to increase the capacity and resilience of our electric grid and accelerate the transition to net zero.
About LineVision
LineVision provides electric utilities with the real-time monitoring and analytics needed to accelerate the net zero grid. LineVision’s patented non-contact sensors collect critical information to unlock additional capacity on existing lines, provide insight into conductor health, and detect anomalies and risks. LineVision’s platform is rapidly deployed at scale without the need for scheduled outages, live line work, or specialized installation equipment. LineVision is helping our utility partners around the world lead the energy transition by increasing the capacity, resilience, and safety of the grid. For more information visit: http://linevisioninc.com
