Funding new power capacity
Maryland has launched Megawatts for Maryland, a two-year grant programme offering up to $200 million for large renewable-energy and battery-storage developments. Governor Wes Moore announced the programme on Monday after the Utility RELIEF Act created it earlier this year.
The programme can use as much as $100 million annually from Maryland’s Strategic Energy Investment Fund. The Baltimore Banner reported that the fund has grown through compliance payments made by utility companies and has also financed energy rebates, clean-energy projects and state budget needs in recent years.
Several hundred megawatts targeted
Developers will compete for grants intended to offset the cost of developing and constructing projects. Eligible resources include battery storage, solar and wind generation, geothermal power and some biofuels.
Maryland Energy Administration officials estimate the funding could support several hundred megawatts of capacity, described as enough to power about 150,000 homes. The state says regional electricity demand is increasing faster than available supply and contributing to higher prices.
Price reductions remain an objective
Officials are presenting additional supply as a way to help restrain electricity costs. Maryland Energy Administration Director Kelly Speakes-Backman said increased supply was needed when strong demand pushed prices higher. The programme does not guarantee that customers’ bills will fall.
Eligible projects must meet financial-solvency and public-engagement requirements, have applied for state permits and sought connections to the regional grid. State law requires auction awards to go to projects offering the lowest energy prices. Preliminary applications are due Nov. 30, while qualifying developers can submit second-stage bids by Jan. 22, 2027.