“Every $1 billion spent on clean energy delivers a stronger return in the form of economic activity and fiscal outcomes than comparable investments in fossil fuels,” said study coauthor and FERC Director Dr. Russell Kashian. “However, the data shows that such impacts rely on a policy framework that can develop enough adequately skilled workers for these jobs and maximize those returns.”
Based on figures from the U.S. Department of Energy, researchers found that the total cost of adding the 8 GW of additional wind and solar energy production capacity (assuming most come from utility-scale wind farms and solar arrays) that would be needed to reach Wisconsin’s 2050 goals would total $9.8 billion, or $390 million per year, after accounting for federal tax credits. This would translate to an added cost per electricity consumer of less than $4 per month, and would leave Wisconsin with the 12th-cheapest utility rates in the country, 13% below the national average.
Using industry-standard IMPLAN modeling based on U.S. Census data, researchers projected the investments would grow Wisconsin’s economy by $824 million, generate $77 million in tax revenues, and create 1,400 jobs every year.
Though data from Public Service Commission (PSC) of Wisconsin reveals that 86% of the construction on Wisconsin’s clean energy projects since 2001 have been performed by local workers, researchers cautioned that any economic benefits from future construction of clean energy infrastructure would be linked to the labor practices of developers.
Specifically, they analyzed comparable utility scale solar projects—a phase one project in Iowa County that primarily employed nonunion construction workers from out of state, according to documents filed with the PSC, and a planned Wood County project by Alliant Energy that has selected a union construction manager. |