Solar Power World reported on the eight-fold return on a $45 billion investment into clean technology in Illinois, quoting AEE's Daniel Bloom. Read excerpts below and the entire piece here.
National business group Advanced Energy Economy (AEE) released results of a report that quantified significant economic benefits associated with investments in advanced energy deployment for the state of Illinois. The report, which was produced by international economics consultant Analysis Group for AEE, used an industry-standard modeling tool to estimate the impact of investing state or federal stimulus funds in advanced energy technologies, products, and services to boost economic activity in the wake of the COVID-19 slowdown.
The full report “Economic Impact of Stimulus Investment in Advanced Energy: An economic assessment of applying stimulus funds to advanced energy technologies, products, and services in Illinois,” is available here.
“As Illinois considers how to respond to the severe economic impacts of the coronavirus health crisis, this report shows investment in advanced energy delivers a whopping eight-fold return to our state’s economy, creating in-state jobs and adding much-needed tax revenues to state and local coffers,” said Daniel Bloom, policy principal at Advanced Energy Economy. “Such public stimulus also attracts billions of dollars in private investment and saves consumers — commercial and retail alike — billions in energy costs annually.
“By investing in energy efficiency and renewable energy, while accelerating the shift to electrified buildings and zero-emission transportation, we can generate significant economic activity in our hardest hit communities while also helping Illinois achieve its ambitious energy and emissions reduction goals,” added Bloom...
“Illinois is uniquely poised to leverage the economic benefits of advanced energy technologies thanks to a strong foundation established by the Pritzker Administration and leadership from the General Assembly,” said Bloom. “With more than 137,000 employed in the sector and an established in-state supply chain supported by a broad range of companies, advanced energy is poised to lead our economic recovery, while making good on our commitment to deliver secure, clean, affordable energy for all...”
Read the entire Solar Power World piece here.