February 3, 2025 (Augusta, ME) – The past few years have seen Maine families, local businesses, and Wabanaki Nations benefit from at least $2.2 billion in direct and induced investments in clean technology thanks to federal funding provided by Congress, according to a new analysis issued today.
For the first time, the report quantifies the total investment in Maine made possible from the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL) and comes at a time when the Trump Administration is considering cutting this lifeline for local communities.
Click here to download the report (PDF)
“Federal climate investments are making a real difference for Maine families and businesses by helping us become more energy independent, creating good-paying jobs, and developing new sources of homegrown clean energy,” said Jack Shapiro, Climate & Clean Energy Director at the Natural Resources Council of Maine (NRCM) who authored the report. “Programs like this, many of which serve Maine’s low-income and rural communities, are at risk if Congress and the Trump Administration take the drastic step of repealing these important funding sources.”
NRCM conducted a new analysis of data from the MIT/Rhodium Group Clean Investment Monitor, identifying $2.2 billion in direct and induced public and private investments that have benefited Maine since the passage of the IRA. The total includes $494.1 million in direct federal investment. When private investments are included, Maine has seen $842.1 million in large-scale solar, wind, and energy storage investments, and $1.37 billion invested in clean energy technologies for families and businesses like rooftop solar, heat pumps, and zero-emission cars spurred on by federal programs.
“This report details the indisputable connection between clean energy and a competitive economy,” said Lindsay Bourgoine, Director of Policy and Government Affairs at ReVision Energy. “As a Maine-based and founded company, we are reinvesting these federal funds to build EV chargers, install heat pumps, and bring solar to schools, municipalities, and homeowners across the state, which creates a positive feedback loop for our local partners and communities. It is clear the Bipartisan Infrastructure Act and the Inflation Reduction Act strengthen our workforce, drive economic growth, and offer Mainers relief on their energy bills.”
The report highlighted just a few of the local projects being supported in Maine that are benefiting Wabanaki Nations, low-income families, and local businesses:
- $206 million in energy grants and loans to rural small businesses and farms to help them reduce energy costs.
- $134 million for energy efficiency upgrades and increased access to solar energy for low-income families, and $10 million for heat pumps in rural manufactured and mobile homes.
- $6.6 million to improve reliability of the electric grid for Wabanaki Nations and local Maine communities, and $7.4 million to the Passamaquoddy Tribe for installation of solar and battery storage on homes and offices.
- $23.5 million for Acadia National Park to transition to all-electric buses.
- $45 million in tax credits for energy efficiency upgrades that will benefit more than 21,000 Maine households.
- $65 million to improve the reliability of the electric grid in rural areas.
NRCM’s analysis also summarizes other findings showing clear economic benefits for Maine that result from investments in homegrown clean energy solutions:
- Maine’s clean energy industry contributed $2.31 billion to the state’s economy in 2022 alone and includes more than 2,500 clean energy businesses.
- Maine’s existing renewable portfolio standard, which encourages clean energy development, already saves electricity customers $21.5 million per year.
- Achieving the state’s goal of reaching 100% clean electricity by 2040 could reduce average household energy costs by approximately $1,300 per year.
- The programs in Efficiency Maine Trust’s latest triennial plan will push down electric rates for Maine families and businesses by more than $490 million.
The report concludes, “Continuing federal clean energy investments and programs, and ensuring committed funding is deployed, is necessary to continue reducing energy costs for all residents, growing new jobs that keep people here, increasing energy independence, and reducing pollution, public health impacts, and climate risks in communities across the state.”