(WASHINGTON EXAMINER) The Department of Energy warns in a new report that the aging electric grid, which provides most electricity to the nation, faces threats from terrorism and storms caused by climate change that could knock out Wall Street, hospitals and the Internet if left unfixed.
In the administration’s first ever “Quadrennial Energy Review,” the department suggests that modernization is a must and estimated the cost at updating just the grid of transmission and distribution lines at $900 billion. Add in updating power plants, and the price reaches $2 trillion.
