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V O L . X X I X N O. I JA N UA R Y 9 , 2 0 2 3 20 2 0 2 3 E C O N O M I C O U T L O O K R E N E WA B L E E N E R G Y Renewable energy sees surge in incentives, but inflation and higher interest rates affect sales B y A l e x i s W e l l s P hil Coupe, the co-founder of ReVision Energy, says Maine's renewable energy industry has benefited from four years of steady leadership by the Mills administration. e state's ambitious decarboniza- tion plan and associated clean energy incentives, combined with the federal Inflation Reduction Act, should lead to continued industry growth in Maine in 2023 and beyond. "Every year, Mainers export $4 bil- lion from the local economy to import polluting, finite fossil fuels from away," Coupe says. "Every time we invest in local renewable energy projects, we keep our energy dollars in the local economy, thereby supporting good jobs, enhancing our energy independence, and reducing air pollution." ReVision Energy, which is based in South Portland, was founded in 2003 to help northern New England transi- tion from a fossil fuel-based economy to a sustainable renewable energy-based economy. Over the past 20 years, it has grown from a small location in midcoast Maine to five branches in Maine, New Hampshire, and Massachusetts. "To date, we have installed more than 15,000 projects, including roof and ground-mounted solar arrays, heat pumps, battery storage systems, and a rapidly growing network of electric vehicle charging stations throughout the region," said Coupe. "In 2015, ReVision became a certified B Corp, and in 2017 we converted to 100% employee ownership. Today we have roughly 400 co-owners working out of our five loca- tions and have been named the No. 1 solar company in New England by Solar Power Industry magazine." Coupe said that the company is con- sidering expanding its region southward but has no immediate plans. e com- pany has five locations in northern New England, all in a high growth mode. "We are growing like gangbusters to meet the unprecedented demand for solar energy, battery storage, heat pumps, and electric vehicle charging stations," he says. But Coupe says the company is not immune to the effects of the overall economy. "High-interest rates, combined with increased costs of goods and labor, are challenging for every business, and those in the renewable energy sector are not immune," he says. "Fortunately, solar delivers such a powerful economic and environmental return on investment." B R O A D B A N D Maine will see its largest infusion of investment in high-speed broadband B y A l e x i s W e l l s I n the coming year, Maine will con- tinue to experience the largest-ever infusion of investment in high-speed broadband internet. It will be the first large-scale invest- ment in Maine broadband since the ree Ring Binder project, which dates to 2009. Maine Connectivity Authority, a quasi-governmental agency, was cre- ated in 2021 to achieve universal access to affordable high-speed broadband in Maine. It is led by Andrew Butcher, who was previously director of the Maine Broadband Coalition. Maine Connectivity Authority will facilitate the investment in last-mile infrastructure, community planning, and digital equity. It's expected the investment will total at least $250 million, with funding coming from federal relief funds and infrastructure appropriations. "is 10x surge of investment will result in direct growth in the construc- tion and engineering sectors as well as significant economic multipliers through expanded remote learning, telehealth, precision agriculture, and forestry and advancing an ever-grow- ing dependency on remote working opportunities," says Butcher. "Strategic investments in the state's backbone, or 'middle mile' infrastructure, will further reveal opportunities for infrastructure to support community anchor institutions, school districts and a more resilient and intelligent electric grid." e agency is sponsoring a workforce development analysis to help identify the hiring needs of numerous internet service providers and telecommunica- tions construction firms across the state. "e current wave of investment in broadband — enabled through federal recovery and relief funds — will be fur- ther complemented by the state's alloca- tion of infrastructure funding through the Bipartisan Infrastructure Law and the Broadband Equity Access Deployment (BEAD) Program," says Butcher. High-interest rates, supply chain shortages and workforce limitations will significantly affect the ability to deploy these investments in broadband. e agency is convening a capital investment advisory committee consist- ing of experts from banking, philanthropy and the financial industry. is group will review the capital stack available to those investing in broadband and make recom- mendations about creative solutions that enable MCA to continue to leverage pri- vate investment in this space effectively. Maine Connectivity Autoritty has numerous upcoming projects, includ- ing Correct the Dots, Broadband Action Planning, All-In Programs, and MOOSE Net. e last project will sup- port education, training, and employ- ment readiness programs through our workforce collaborations with the Maine Community College System, the Maine Department of Labor, and others. R E TA I L Discount retailer Marden's staying nimble in 2023 B y A l e x i s W e l l s O ver the past couple of years, there has been no shortage of struggles and uncertainty when it comes to the high cost of food, gas and heating oil. Andrew Marden, one of the principal owners of Maine's bargain store Marden's Surplus & Salvage, considers many mac- roeconomic factors out of his control. Like other businesses, the 14-store chain has grappled with rising costs, but Andrew Marden is optimistic. Like many retailers, Marden's has worked diligently on hiring over the past year. e hiring needs are different from location to location, but the company plans on keeping its goal of finding the right people to join its team. "As a discount store, we have been seeing lots of new and old customers who are turning to us first to try and save where they can," says Marden. Marden's sells clothing, footwear, hardware, tools, flooring, furniture and fabric. It was started in 1964 by Harold "Mickey" Marden. e com- pany employs around 670 people and has annual sales of $130 million. "While we are not a department store that always has specific items, Mainers know it is worth a trip, and if they find what they are looking for, it will be a true deal. We also feel that for various factors, our inventory is as exciting and as big of a variety as it has ever been." » C O N T I N U E D F RO M P R E V I O U S PA G E P H O T O / J I M N E U G E R Phil Coupe with his new Ford F150 Lightning, an electric pickup. F O C U S P H O T O / C O U R T E S Y O F M A I N E C O N N E C T I V I T Y A U T H O R I T Y Andrew Butcher, president of Maine Connectivity Authority. P H O T O / C O U R T E S Y O F M A R D E N ' S S U R P L U S & S A LVA G E Andrew Marden, left, with Harold "Ham" Marden, principals at Marden's Surplus & Salvage.

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