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1 S. 2332, Grid Modernization Act of 2019, as Reported by the Senate Committee on Energy and Natural Resources on October 24, 2019 1 (November 15, 2019)

handle is hein.congrec/cbogrdm0001 and id is 1 raw text is: j Congressional Budget Office Cost Estimate November 15, 2019 By Fiscal Year, Millions of Dollars 2020 2020-2024 2020-2029 Direct Spending (Outlays) Revenues Increase or Decrease (-) in the Deficit 0 0 0 0 0 0 S. 2332 would direct the Department of Energy (DOE) to establish a research, development, and demonstration program for energy storage technologies. The bill also would direct DOE to establish a grant program to carry out projects related to modernizing the electric grid and other programs aimed at increasing the resiliency of electrical systems. S. 2332 would authorize the appropriation of $250 million a year through 2028 for those purposes. Assuming appropriation of the authorized amounts, and based on historical spending patterns for similar activities, CBO estimates that implementing S. 2332 would cost $842 million over the 2020-2024 period and $1.4 billion after 2024. The costs of the legislation (detailed in Table 1) fall within budget function 270 (energy). 2020 2021 2022 2023 2024 2025 2026 2027 2028 Authorizationa Estimated Outlays 204 250 250 46 133 191 250 250 250 243 247 249 a. Section 3 of S. 2332 would authorize the appropriation of $50 million in 2020 for DOE to conduct a research, development and demonstration energy grid storage program. Using information from DOE's budget justification, CBO estimates that $46 million has been allocated to a similar program on an annualized basis from funds made available under the continuing resolution (Public Law 116-59), which provided appropriations through November 21, 2019. Thus, the estimated authorization for 2020 ($204 million) is equal to the specified amount for the entire bill ($250 million) minus the annualized amount for section 3 of the bill from the continuing resolution ($46 million). The CBO staff contact for this estimate is Sofia Guo. The estimate was reviewed by H. Samuel Papenfuss, Deputy Assistant Director for Budget Analysis. See also CBO's Cost Estimates Explained, www cbo.gov/pubicationi54437; How CBO Prepares Cost Estimates, www.cbo.gov/publication!53519; and Glossary, www.cbo.gov/pubication/42904.

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