More than $265 million in federal stimulus funding is on the way to improve Florida’s electric distribution grid, and while the cash is welcome, some say the dollars could be stretched further with the help of a federal energy bill.

The Senate Environment and Public Works Committee is winding up three days of debate on the climate change bill, following President Obama’s announcement of more than $3 billion in stimulus money. Florida’s portion will be matched by over $450 million in corporate investment.

Martha Collins, Florida field officer for Pew Environment Group, says the investment will help expand Florida’s growth in clean energy, but it will be limited without action on the bill pending in the Senate.

“Passing a clean energy bill will make America a leader in solving global warming, enhancing our national security, and creating new, good paying jobs in the clean energy economy,” she said.

Stimulus funds are a step in the right direction, says Collins, adding that Florida Power and Light alone was awarded $200 million, one of the largest grants in the nation.

“Florida can use this share of the stimulus money to enable new energy efficiency and conservation programs, save consumers money, and create good jobs here in Florida,” she said.

The federal grant will allow installation of over two million new “smart meters” in Florida. They contain software that should give consumers information to help them better manage their energy use.

Over the past three years, Florida reportedly has attracted nearly $117 million in venture capital tied to renewable energy projects, which have created 30,000 clean energy jobs. Advocates for an energy bill say it would continue that trend, but opponents argue the bill would cost consumers in terms of new taxes and higher prices for anything that uses energy. The White House plans to start distributing the stimulus funds in the next 60 days.