"This study analyzes the economy-wide impacts of the American Recovery and Reinvestment Act of 2009 (Recovery Act or ARRA) funding for Smart Grid project deployment in the United States, administered by the U.S. Department of Energy Office of Electricity Delivery and Energy Reliability (DOE OE). The time period of the investments analyzed cover expenditures from August 2009 to March 2012, which encompasses nearly three billion dollars in publicly documented expenditures. The Smart Grid support from the U.S. Department of Energy (DOE) included the Smart Grid Investment Grants (SGIG) and the Smart Grid Demonstration Program (SGDP). These investments under the Recovery Act were intended to serve a dual mission: a primary mission of economic stimulus for the American workforce and the nation’s economy as a whole, and a secondary mission of supporting the specific program or Agency mission through the authorizing department, which in this case is the modernization of the United States electricity grid. Both missions are reflected in the ARRA Smart Grid projects, as they have generated economic benefits and are beginning to demonstrate that the deployment of Smart Grid technology is leading to operational, customer, and reliability benefits. These benefits, however, are being realized on different time horizons, and the present analysis follows the economic effects of the immediate spending, and represents a measure of performance towards the primary mission."