NEW ENERGY SAVED MONEY FOR NO CAROLINA

New Report Shows Clean Energy’s Positive Impact on North Carolina’s Economy and Utility Rates; Since 2007, clean energy investments have created thousands of jobs.

February 18, 2013 (North Carolina Sustainable Energy Association)

“… The Economic, Utility Portfolio, and Rate Impact of Clean Energy Development in North Carolina [from RTI International and La Capra Associates, Inc]…is an economic analysis focused on the impacts of clean energy policy in the state…[commissioned by the] North Carolina Sustainable Energy Association (NCSEA)…[It] found that the key policy drivers of clean energy development in North Carolina include the Renewable Energy & Energy Efficiency Portfolio Standard (REPS), renewable energy investment tax credit, and Utility Savings Initiative.

“…[K]ey findings include…Clean energy policies are costing electricity ratepayers less than they would have paid without these policies. By 2026, this switch to clean energy will lead to $173 million in cost savings for electricity customers…While the broader North Carolina economy lost more than 100,000 jobs from 2007-2012, the state experienced a net gain in [clean energy development] of 21,162 job years…Tax credits taken by renewable energy projects…generated $1.87 in state or local revenue for every $1.00 of incentive…[and] clean energy policies…[generated $113 million] in net revenue…”

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“…Between 2007 and 2012, clean energy investment…increased 13-fold and generated or saved an estimated 8.2 million MWh of energy…[S]tate government energy efficiency programs saved the government an estimated $427 million of taxpayer money…[And] the total economic benefit of clean energy development in North Carolina was $1.7 billion and generated $2.56 billion in associated spending in the state economy…[M]ore than $100 million of new clean energy investment [came in just three rural counties]…

“…[The NC] clean energy industry includes over 1,100 companies found in all regions of our state…[and] includes renewable energy, energy efficiency, high performance building, smart grid, energy storage and electric vehicles…These companies generated at least $3.7 billion in annual revenues from in-state and out-of- state activity. Based on filings with the NC Utilities Commission, there are nearly 2,300 installed or planned renewable energy systems…”

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