U.S. Vice President Joe Biden detailed on Thursday the Department of Energy's plan to develop the electrical smart-grid by distributing about $4 billion to utility companies and other groups involved in the task.

Biden said in a statement, that more than $3.3 billion will be distributed in smart grid technology development grants and an additional $615 million will be given for smart grid storage, monitoring and technology viability.

The smart grid is an electricity network that delivers electricity from suppliers to consumers.

We need an upgraded electrical grid to take full advantage of the vast renewable resources in this country - to take the wind from the Midwest and the sun from the Southwest and power areas across the country, Vice President Biden said in Jefferson City, Missouri today.

President Barack Obama has supported an energy policy that reduces greenhouse gases emissions into the earth's atmosphere, which have been blamed for climate change. He has signaled the importance and use of technologies to reduce gas emissions by 80 percent in 2050.

During the visit today Biden was accompanied by Commerce Secretary Gary Locke who announced plans for a Smart-Grid meeting in Washington D.C. in early May where leaders of private and public industry and will discuss about industry standards critical for developing the smart grid.