As you’ve likely heard, President Joe Biden has proposed a sweeping infrastructure and jobs bill that would affect electric cooperatives through increased investment in broadband, energy improvements and electric vehicles while reducing carbon dioxide emissions. Our power supplier, Wabash Valley Power Alliance, is keeping a close eye on this bill, namely these specific items that could mainly benefit electric cooperatives.

Broadband Expansion

$100 billion to ensure that every American has broadband access, particularly in rural areas.

Energy Improvements

• $100 billion to update and expand electric transmission service to improve reliability and resiliency while preparing for more renewables.
• Allow electric co-ops to access direct-pay tax credits for energy innovation projects.
• $15 billion for special projects such as battery storage, carbon capture and advanced nuclear energy.

Electric Vehicle Network

$174 billion investment to support the electric vehicle (EV) market with grants and incentive programs for a national EV charging network in place by 2030. Also sets a goal of electrifying 20 percent of the nation’s school bus fleet.

Rural Community Support

• $5 billion to foster business and economic development in rural areas, increased community college access and energy-efficient and affordable housing funding.

The cost of these improvements is anticipated at $1.9 trillion over 10 years, which would be funded by increasing taxes on corporations and closing many tax loopholes. The vast scope of the bill ensures that it will impact everyone. As political leaders debate the proposal, our colleagues across the industry will work to ensure the best possible outcome for co-op members. 

We are excited about the incentives available to allow us and our power supplier to leverage new technologies. In doing so, we will continue to be committed to doing our part to keep electricity affordable at the co-op level. We will keep you updated as more details on this bill become available.