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What They’re Saying: New Western RTO Economic Impact Study

Posted by Adam Winer on Jul 28, 2022

This week, national business group Advanced Energy Economy (AEE) released new research into the economic development potential of establishing a regional transmission organization (RTO) to operate the power grid for Western states. The report, conducted by independent consulting firm Energy Strategies, finds that establishing an RTO for Western states would create as many as 657,000 permanent, high-paying jobs in the West. If you want to learn more, watch the press briefing here

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Topics: State Policy, Advanced Energy Employment, Press Releases, Economic Impact, Amisha Rai

New Study Shows Integrated Western Power Market Would Create Upwards of 650,000 Permanent High-Paying Jobs in the West

Posted by Adam Winer on Jul 26, 2022

A Western RTO could save Western states $2 billion in annual energy savings

JULY 26, 2022 – A new report for national business association Advanced Energy Economy (AEE) by independent consulting firm Energy Strategies finds that establishing a Regional Transmission Organization (RTO) for Western states would create as many as 657,000 permanent, high-paying jobs in the West. The analysis, "Western RTO Economic Impact Study," also found that a Western RTO would diversify state economies and save ratepayers millions of dollars per year in energy costs.

An RTO is a cooperation agreement which allows electric utilities across multiple states to share resources and leverage the cheapest, cleanest, and most efficient energy sources through an organized regional market. Currently, the West is one of the only regions in the U.S. without an RTO managing its power grid.

The analysis found that every state in the Western region (Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming) could expect economic benefits from a West-wide RTO, driven by lower electricity prices for households and businesses, additional clean energy development across the region, and the expansion of existing, as well as attraction of new, businesses to the West.

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Topics: State Policy, California Engagement, Advanced Energy Employment, Press Releases, Economic Impact, Amisha Rai

U.S. Electric Transportation Workforce Set to Double by 2024

Posted by Adam Winer on Aug 11, 2021

New report finds U.S. electric transportation industry is projected to nearly double over five years, creating an additional 141,000 jobs, with additional 2 million workers able to quickly retrain to benefit from market growth

WASHINGTON, DC, August 11, 2021 — Today national business group Advanced Energy Economy (AEE) released an analysis quantifying the nationwide economic benefits of a growing electric transportation industry. As demand for electric vehicles (EVs) and investment in EV charging infrastructure grows, industry employment is expected to double from 2019 levels to nearly 300,000 jobs by 2024.

“Economic opportunities will ripple throughout the supply chain and maintenance sectors as the domestic electric vehicle industry grows quickly over the next few years,” said Ryan Gallentine, policy director at AEE. “The electric vehicle industry already employs people across all 50 states, and policymakers should expand those opportunities with incentive programs that make it easier for consumers and business fleets to fully electrify.”

The report, Building an Electric Transportation Economy in the United States," produced by BW Research Partnership for AEE, analyzes the current electric transportation industry across the U.S. 

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Topics: Federal Policy, Advanced Energy Employment, Press Releases, Legislative, Manufacturing and Infrastructure

Domestic Manufacturing Would Prosper from Pivot to Advanced Energy Technology

Posted by Adam Winer on Aug 5, 2021

Report findings to be presented during AEE’s ‘Made in America’ webinar, with appearance by U.S. Energy Secretary Jennifer Granholm

WASHINGTON, DC, August 5, 2021 – Federal policies proposed by President Biden and under consideration by Congress to invest in a decarbonized grid and electrified transportation would grow the U.S. advanced energy manufacturing sector by 365% in five years and create nearly 1 million additional jobs.

That’s the conclusion of a new analysis prepared by Guidehouse Insights for Advanced Energy Economy (AEE), which represents companies working to make the energy we use secure, clean, and affordable. The findings quantify U.S. manufacturing and jobs growth potential should Congress move forward with a Clean Energy Standard (CES) and many of the policies in the Biden Administration’s American Jobs Plan. The findings will be the focus of an online panel discussion today featuring an appearance by U.S. Department of Energy Secretary Jennifer Granholm.

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Topics: Event, Advanced Energy Employment, Press Releases, Manufacturing

Stimulus Investments in Advanced Energy Would Deliver More Than $117 Billion to New Mexico’s Economy

Posted by Jane Reynolds on Jul 28, 2021

New report from AEE finds investing in cleaner energy technologies in New Mexico would create nearly 800,000 jobs and save New Mexicans almost $6 billion annually on energy costs

SANTA FE, July 28, 2021 – National business group Advanced Energy Economy (AEE) released a new report today that adds up the benefits of a potential federal stimulus package for New Mexico’s advanced energy sector. According to the report, a federal investment of $20 billion would deliver a nearly six-fold return for the state, adding $117 billion to the GSP (gross state product). The investment would also save consumers, municipalities, and businesses almost $6 billion on energy costs every year for decades to come and create 796,000 industry jobs (measured in job-years) for New Mexicans.

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Topics: State Policy, Advanced Energy Employment, Press Releases, Economic Impact, New Mexico

Advanced Energy Stimulus Would Bolster Ohio Economy and Create 1.7 Million New Jobs

Posted by Jane Reynolds on Jul 21, 2021

A new economic analysis finds a targeted $25 billion stimulus in Ohio's advanced energy sector would create nearly 1.7 million jobs for Ohioans and add $260 billion to the state economy—a 10-fold return on investment.

COLUMBUS, July 21, 2021 – Today, national business association Advanced Energy Economy (AEE) released a report quantifying the benefits of advanced energy investment for Ohio. The report found that investing $25 billion from potential federal stimulus in advanced energy technologies* would create 1.7 million new jobs for Ohioans (measured in job-years), save Ohio consumers $13 billion annually, generate $14 billion in annual tax revenue, and add $264 billion to GSP (gross state product).

“Federal investment in advanced energy could reset Ohio’s energy pathway by spurring new investments in energy efficiency, renewable energy, electric vehicles, and energy storage. These investments would benefit families and businesses, as well as the state’s economy overall,” said J.R. Tolbert, a managing director at Advanced Energy Economy. “Targeted stimulus applied to advanced energy has the potential to produce a 10-fold return on investment, while creating good paying local jobs.”

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Topics: State Policy, Ohio, Advanced Energy Employment, Press Releases, Economic Impact

Targeted Stimulus Investment in Advanced Energy Would Deliver Nearly $134 Billion to Virginia’s Economy

Posted by Cayli Baker on Jul 14, 2021

Economic analysis finds $20 billion in targeted stimulus investment would have a seven-fold impact, increasing Virginia’s gross state product and adding nearly 840,000 new jobs.

RICHMOND, June 14, 2021 – Today, national business group Advanced Energy Economy (AEE) released an economic assessment that found $20 billion in public investments across a range of advanced energy technologies* would increase Virginia's gross state product (GSP) by nearly $134 billion. This level of targeted stimulus would attract $49 billion in complementary private investment, save customers $6.4 billion annually, and add 838,000 jobs, measured in job-years, for Virginians.

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Topics: State Policy, Virginia, Advanced Energy Employment, Press Releases