Advancing GETs Act of 2024
HR 7624, the Advancing GETs Act of 2024, creates a financial incentive for entities installing grid-enhancing technologies (GETs) on electric transmission systems. It requires the Federal Energy Regulatory Commission (FERC) to establish a "shared savings" program by July 2025, returning 10-25% of verified cost savings (minimum 4x the investment cost) to developers over three years for new GET installations that improve grid capacity, efficiency, or resilience. The bill also mandates annual congestion cost reporting from transmission operators and directs the Energy Secretary to create a public application guide for utilities, funded with $5 million in 2024 and $1 million annually through 2035. This directly affects developers of transmission infrastructure and utilities seeking to implement GETs, focusing on tangible financial mechanisms rather than speculative outcomes.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2024
Committee Review
Floor Vote
President
Introduced Mar 12, 2024
Last action Mar 15, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Mar 15, 2024
Committee
Referred to the Subcommittee on Energy, Climate and Grid Security.
lower
Mar 12, 2024
Committee
Referred to the House Committee on Energy and Commerce.
lower
Mar 12, 2024
Introduced
Introduced in House
lower
1 primary · 5 co-sponsors
Sponsors
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