Climate Smart Buildings Initiative Positions Federal Government for Clean Energy Transformation Through Energy Savings Performance Contracts

Rhea-AI Summary

Ameresco (NYSE: AMRC) applauds the Biden Administration for its Climate Smart Buildings Initiative, designed to enhance public-private partnerships aimed at reducing greenhouse gas emissions and cutting energy costs. The initiative is set to create nearly 80,000 jobs and achieve up to 2.8 million metric tons of GHG reductions annually by 2030, leveraging $250 million from the Infrastructure Investment and Jobs Act. Ameresco plans to utilize its 22 years of experience in Energy Savings Performance Contracting to support these goals.

Positive

• Secures long-term partnership with the government through the Climate Smart Buildings Initiative.
• Anticipates creating approximately 80,000 jobs and reducing 2.8 million metric tons of GHG emissions annually by 2030.
• Benefits from $250 million funding from the Infrastructure Investment and Jobs Act.

Negative

• None.

Ameresco commends the Administration for leveraging public-private partnerships to modernize Federal buildings and reduce greenhouse gas (GHG) emissions

FRAMINGHAM, Mass.--(BUSINESS WIRE)--

Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, welcomes today’s announcement from the White House regarding the Climate Smart Buildings Initiative. This government-wide initiative is focused on leveraging Energy Savings Performance Contracting (ESPC) to reduce energy costs, create jobs and cut greenhouse gas emissions. It is expected to accelerate energy efficiency projects by leveraging public-private partnerships designed to create and support nearly 80,000 American jobs and achieve up to 2.8 million metric tons of GHG reductions annually by 2030.

Among other ambitious goals, this initiative will leverage $250 million in funding from the Infrastructure Investment and Jobs Act, and work to continue raising the bar through collaboration and capacity building to scale up progress to a net zero economy. It is an important component of the President’s Federal Sustainability Plan, which aims to lead by example in Federal buildings by reducing emissions by 50 percent by 2032 and ultimately achieving net-zero emissions by 2045.

“We applaud the Biden Administration personnel and Congressional champions for their steadfast focus on continuing to advance the clean energy transformation through innovative programs such as the Climate Smart Buildings Initiative,” said Nicole Bulgarino, Executive Vice President, Ameresco. “Ameresco is focused on providing ESPC solutions to customers looking to renew their facilities and reduce their energy costs without the need for upfront capital. These kinds of transformative energy projects are typically financed through future energy savings. We look forward to further utilizing our more than 22 years of ESPC experience to help the Federal Government reach their ambitious goals.”

Ameresco has been a long-term partner and champion of sustainability at Federal buildings throughout the country. One such example that was featured by the White House is the 2019 completion of the Department of Defense’s U.S. Marine Corps Recruit Depot Parris Island project. This ESPC with Ameresco resulted in a project that encompassed more than 120 buildings and reduced overall energy use by 75%.

To learn more about Ameresco and the company’s clean energy solutions, visit www.ameresco.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to customers throughout North America and Europe. In support of our customers pursuit of Net Zero, our sustainability services include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and Europe. For more information, visit www.ameresco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220803005996/en/

Media Contact:

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.

FAQ

What is the Climate Smart Buildings Initiative related to Ameresco (AMRC)?

The Climate Smart Buildings Initiative aims to modernize federal buildings, reduce greenhouse gas emissions, and create jobs through public-private partnerships, significantly involving Ameresco.

How many jobs will the Climate Smart Buildings Initiative create?

The initiative is expected to create nearly 80,000 American jobs.

What are the greenhouse gas reduction targets for the Climate Smart Buildings Initiative?

The initiative aims to achieve up to 2.8 million metric tons of GHG reductions annually by 2030.

What funding is associated with the Climate Smart Buildings Initiative?

The initiative will leverage $250 million from the Infrastructure Investment and Jobs Act.

How does Ameresco (AMRC) plan to support the initiative?

Ameresco plans to utilize its 22 years of experience in Energy Savings Performance Contracting to help the federal government reach its energy efficiency goals.