Biden’s Infrastructure Bill and Solar and Other Renewable Energy Sources
Biden has made it clear that a focus of the new Infrastructure Bill will be to support solar and other renewable energy sources. The idea is to update America’s power infrastructure while at the same time addressing climate concerns.
What is included in the plan?
There are a few ways in which solar and other renewable energy sources have been included in the plan. With solar, the bill would provide a 10-year extension and phasing of both the investment and solar tax credits provided for clean energy generation and storage. Additionally, it proposes $100 billion to “reenergize America’s power infrastructure.” This means that we would phase out oil and gas, plug up those facilities and clean up abandoned mines, and retrofit or build facilities capable of carbon capture. We would replace the energy those facilities generate by expanding our solar and wind energy efforts. Another facet would be to address our aging power grids and to ensure that they can withstand severe weather and climate events.
How does this translate to jobs?
It’s estimated that around 1 to 1.2 million jobs per year will be created from the bill. On the manufacturing end, this could also mean the creation of 6.9 million factories, construction, and transportation sector jobs. The idea is to not only upgrade and update our power system but to become a leading manufacturer of solar panels, wind turbines, and electric vehicle technologies. At the beginning stages, procurement agents will be looking for construction help to retrofit old buildings to be more energy-efficient. They might also need to install solar panel systems to generate and store energy. Any new facility being constructed will also need these types of installations.
Are you a solar panel distributor?
It’s time to shine! There will be a lot of projects coming up for the installation of solar panels. Also, because of the solar tax credits, it won’t be just from government agencies, but private companies might be looking to invest in solar power as well. Make sure you have access to the most updated technology, and that you can provide a wide array of systems for various sizes of buildings. Any certifications that need to be added or renewed should be taken care of now. Finally, if you want to be connected to procurement departments across America and be notified when RFPs are posted, you should consider creating an account on an e-bidding platform like DemandStar. It’s a good idea to set this up early so that you can become familiar with the platform and start establishing relationships before any funding is distributed.
Spending on Solar
Solar and other renewable energy sources will be a large part of the upcoming bill. As the goal is to lean into these sources to not only help update the U.S. power grid but to address climate change, renewable energy source vendors like solar suppliers should be staying up to date on new developments surrounding the Infrastructure Bill.
Are you a solar panel distributor? What steps will you be taking to ensure you get a piece of the $100 billion proposed spend?