The Grid MODEL Act of 2024 requires the Federal Energy Regulatory Commission to establish new reliability standards that use probabilistic modeling to improve how the nation's electrical grid plans for future energy needs. Specifically, the standards must account for uncertainties in power generation, transmission, energy storage, and electricity demand—including factors like weather impacts on solar and wind power, battery degradation, electric vehicle charging, and extreme weather events that could cause widespread outages. The bill gives the Electric Reliability Organization 18 months to submit proposed standards to the Commission for approval, with the standards allowing utilities, grid operators, and other providers to continue using existing modeling approaches while incorporating the new requirements. The legislation applies to all power grid regions and service areas across the United States and is designed to help utilities make better decisions about building generation capacity and infrastructure to maintain reliable electricity supplies as the energy system becomes more complex with renewable energy and electrification.