Case in point, Ameresco Inc.
And that’s unlikely to change, no matter how the election turns out.
Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner with over $14 billion in energy solutions delivered since 2000. Technical independence coupled with our advanced technology portfolio allows us to integrate best-in-class solutions for the unique needs of each customer, paired with practical financial solutions.
Drawing from more than 20 years of experience, Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. We provide local expertise across the US, Canada, UK and Europe.
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Even in the case of the (gag..God Help us) Trump victory, the clean energy transition has momentum, especially, in fact, in Red states and Red Congressional Districts.
This month, 18 House Republicans submitted a letter to House Speaker Mike Johnson (R-La.) urging him not to repeal the Inflation Reduction Act’s clean energy tax credits if Republicans maintain or expand their House majority in this year’s election. They emphasized that these “energy tax credits have spurred innovation, incentivized investment, and created good jobs in…many districts represented by members of our conference.”
These Republicans are likely reacting to a repeated talking point by former President Donald Trump and many Republican candidates on this year’s campaign trail: grand declarations that if elected into office, the Inflation Reduction Act and its associated tax credits will be on the chopping block.
In reality, repeal is extremely unlikely.
For starters, the IRA has deeply and disproportionately benefited red states in capital investments, expansion of manufacturing, job creation and economic growth. A Financial Times analysis revealed that, in the legislation’s first year alone, $180 billion of investment were committed to districts represented by Republicans in Congress, compared to approximately $10 billion in districts represented by a Democrat.
Overall, the IRA has benefitted all states. In its first year, over 280 clean energy projects were announced across 44 U.S. states, representing $282 billion in investment and forecasts to create nearly 175,000 jobs, according to public announcements tracked by the American Clean Power Association. In corporate earnings calls, solar energy was the clean energy topic most often mentioned in combination with the IRA on earnings calls, according to Goldman Sachs analysis.