Microgrid Knowledge reported on the benefits of advanced energy stimulus to state economies across the country, referencing AEE's Economic Impact Reports. Read excerpts below and the full piece here.
With Congress eyeing another coronavirus economic package, a new report finds that federal economic stimulus spending on clean energy, including microgrids, electric vehicles and energy storage, could jump start a surge in economic growth...
The coronavirus crisis destroyed millions of American jobs, including hundreds of thousands in clean energy, the Biden-Harris transition team said on its transition website that went live Monday. One of President-elect Biden’s top four priorities is tackling climate change, which includes investing in zero emission vehicles, renewable energy and building upgrades, according to the website.
Investments in a range of advanced energy technologies and services would lead to economic benefits that are four to 14 times as high as the spending, according to an analysis prepared for Advanced Energy Economy and Texas Advanced Energy Business Alliance...
The reports examined what would happen in eight states if $2 trillion was spent nationwide on clean energy initiatives. The states were Arizona, California, Colorado, Florida, Illinois, Nevada, Pennsylvania, and Texas. The Analysis Group prepared reports for each state based on a spending allocation that mirrored stimulus programs following the 2008-2009 financial crisis.
The study, released Oct. 29, focused on the economic effects of spending on grid modernization, including smart meters and microgrids, solar and wind generation; energy efficiency; energy storage; electric vehicles and charging infrastructure; and transmission upgrades.
The Analysis Group found that in all states studied the greatest economic impact comes from investing in energy efficiency, which was allocated a quarter of all the stimulus spending. In California, for example, $20 billion in spending on energy efficiency produced $373 billion in additional gross state product growth and 1.9 million job-years...
Read the entire Microgrid Knowledge piece here.