WaPo: DC at Center of New Energy Industry

Few Washingtonians would believe that cutting-edge energy technology is being developed in Germantown, MD. But Current Group, a Germantown-based energy technology firm, is currently working to develop equipment that will make America’s electric grid “smarter.”

The Washington Post’s Kim Hart documented the rise of energy technology developers right here in our back yard in today’s Post. Current Group has purchased a home in Bethesda that is a working laboratory for smart-grid technology that will make the electric grid more efficient and will give consumers a better idea of how their homes use electricity.

Hart also points out a smart-grid project taking place in Boulder, CO that recently attracted the interest of President Obama. The project not only involved Current Group’s work, but also the work of GridPoint, a software company in Arlington, VA.

Both GridPoint and Current Group are small local firms that have benefited from the $4.5 billion in grants included in the Stimulus Plan. Before getting involved in smart-grid projects, Current Group was trying to use powerlines to supply broadband Internet and GridPoint was developing appliances that store  energy from solar panels.

The work being done by Current Group and GridPoint is significant for many reasons. One of the most surprising is that it’s happening in the midst of an economic downturn. A venture capitalist analyst in the Washington-area explains in the Post article that 90% of Washington venture capitalists didn’t make a single investment last quarter. This means the stimulus is opening doors to local business growth that would otherwise be stifled in a recession.

To read the full Washington Post article on their website, click HERE.

Photo credit: Flickr CC user vaxomatic