The Obama administration today announced 100 utility projects that will collectively receive $3.4 billion in federal stimulus money to promote the development and deployment of advanced electricity grid technologies. The Department of Energy said that the grants, ranging from $400,00 to $200 million in size, will spawn the installation of nearly 20 million advanced digital meters, nationwide. By enabling utilities and regulators to improve demand-side management, these so-called “smart meters” are viewed as an a key component to modernizing the country’s electric grid. They also let owners of solar panels — and other distributed renewable energy generation systems — track and manage their electricity use.

As reported by Bloomberg,

“The current system is outdated and dilapidated,” Carol Browner, the White House’s top energy adviser, said in a conference call with reporters late yesterday. Today’s grants “will give us a transformational impact on how electricity is generated, delivered and consumed,” she said.

For more news and info on smart grid developments, check out posts from our very own Sandra Kreis.