V.I. Energy Office Anticipates Over $150 Million Funding in 2024 For Energy Resilience and Affordability Projects

The VIEO leverages the IRA and BIL to fund various programs aimed at enhancing energy resilience and affordability.

  • Staff Consortium
  • January 02, 2024

After receiving approximately $14 million in funding this year, the Virgin Islands Energy Office (VIEO) is anticipating even more federal support for solving the territory’s energy woes. 

An announcement on December 29 notes that President Biden’s Inflation Reduction Act (IRA) as well as the Bipartisan Infrastructure Law (BIL) have channeled significant sums to the VIEO, which has used the funding to expand access to battery storage and electric vehicles in the Virgin Islands. 

VIEO says it intends to use the over $150 million expected in 2024 on a range of programs designed to enhance energy resilience and affordability. Substantial grants from the U.S. Department of Energy under the IRA will support initiatives including energy efficiency rebates and grid resilience projects. Additionally, a $100 million grant from the U.S. Environmental Protection Agency will fund VIEO’s implementation of the ‘Solar For All’ initiative in the territory. 

VIEO says the influx of IRA & BIL funding empowers the agency to tackle longstanding energy challenges in the territory. Key projects planned include the deployment of microgrids comprising solar photovoltaic (PV) cells plus battery storage. Residential and community solar generation and energy storage capacity will be integrated into a virtual power plant, VIEO says.

The agency is also working towards installing renewably powered electric vehicle charging stations at key locations across the territory, projects that taken together are expected to transform the territory’s energy landscape and propel it towards a renewable future, according to VIEO.

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