03/18/2010 05:12 am ET Updated May 25, 2011

Smart Grid: Obama To Give $3.4 Billion To Upgrade Electric Grid

WASHINGTON (Reuters) -- President Barack Obama on Tuesday will announce $3.4 billion in government grants to help build a "smart" electric grid that will save consumers money on their utility bills, reduce blackouts and carry power supplies generated by solar and wind energy, the White House said.

It marks the largest award made in a single day from the $787 billion stimulus package approved by Congress, and will create tens of thousands of jobs while upgrading the U.S. electric grid, according to administration officials.

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