President Biden recently introduced the American Jobs Plan to create the “most resilient, innovative economy in the world” through improving the nation’s infrastructure. The proposal outlines aggressive initiatives to support and enhance the use and accessibility of electric vehicles and EV charging stations and energy-efficient buildings. Of course, substantial changes like those proposed in the American Jobs Plan require industry experts and liaisons, like Hampshire Power (HPC), to assist in their fruition. Luckily, HPC’s offerings already mirror numerous points from the plan. We are eager to work with our partners to fulfill these lofty goals. Here are some numbers from the proposal to note:
- $2 trillion to be spent over 8 years. If all goes according to plan, this will largely come from the proposed increase in the corporate tax rate and will be made back in 15 years.
- $174 billion to electric vehicle investments.
- $100 billion to the electric grid and clean energy.
- $40 billion to improve the energy efficiency and safety of public housing.
Hampshire Power welcomes the transition to electric vehicles. That’s why we finance, develop, own, and maintain electric vehicle charging stations, and help commercial real estate owners and developers tap into the revenue potential of their parking lots. The proposed 500,000 charging stations need to be built and commercial property owners need to provide their workers with the ability to predictably and affordably charge their EVs. HPC is ready to bring additional revenue streams, employee satisfaction, and a competitive edge to our clients through the deployment of EV charging stations.
The American Jobs Plan allocates billions of dollars to “build, preserve, and retrofit more than two million homes and commercial buildings, modernize our nation’s schools and child care facilities, and upgrade veterans’ hospitals and federal buildings”, all of which include energy-efficient upgrades.
As we retrofit our buildings, electrify heating and cooling, and build resilience and backup power, Hampshire Power stands uniquely positioned to deploy a vertically integrated solution to our building owner customers. Not only do we build additional revenue streams through rooftop solar PV, EV charging stations, and battery backup, but as a community solar expert and retail energy supplier, Hampshire Power can leverage that new efficiency and power into an integrated, discounted electricity bill. HPC works with virtually any business or organization looking to optimize their energy bill and operate more efficiently. Between community energy, ground-source heat pumps, and other renewable energy sources, Hampshire Power offers energy-efficient and cost-cutting solutions to fit businesses and public entities alike.
Tax Credits and Incentives
President Biden’s plan to mobilize this proposal relies heavily on tax credits and incentives. The plans regarding EV charging stations, the electric grid, and energy-efficient buildings all have incentives attached to them. While monetary incentives to go green are effective, the process of filing and claiming them can be burdensome. Fortunately, Hampshire Power specializes in monetizing complicated incentive and rebate plans. Through effective advocacy and diligent application processes, HPC utilizes our intricate industry knowledge and experience to help clients capitalize on SRECs, RECs, and Alternative Energy Credits (AECs). If the American Jobs Plan expands those opportunities, HPC will be there to simplify the process.
According to the President, this proposal would be “a once-in-a-generation investment in America” if enacted. But no matter the outcome of the American Jobs Plan, Hampshire Power remains on a mission to bring the benefits and opportunities of clean energy to help clients’ bottom lines.
Contact Hampshire Power for a comprehensive guide to all of our offerings.