in News Departments > New & Noteworthy
print the content item

Clean energy policies have had a positive economic impact on the North Carolina economy, finds a new report released by RTI International and La Capra Associates Inc.

The study, commissioned by the North Carolina Sustainable Energy Association (NCSEA) and based on independent and objective analysis, found that by 2026, clean energy will lead to $173 million in cost savings for electricity customers in the state.

11138_nc_study_2.19.13.jpg
Source: NCSEA

The key drivers of clean energy development in North Carolina include the renewable energy and energy efficiency portfolio standard, the renewable energy investment tax credit and the utility savings initiative.

According to the study, tax credits taken by renewable energy projects developed between 2007 and 2012 generated $1.87 in state or local revenue for every $1.00 of incentive. Since 2007, the state’s clean energy policies have generated $113 million in net revenue for the state.

Between 2007 and 2012, clean energy investment in North Carolina increased 13-fold and generated or saved an estimated 8.2 TWh of energy through a combination of renewable energy and energy efficiency projects, the study found. During the same time frame, 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, according to the report.

Moreover, while the broader North Carolina economy lost more than 100,000 jobs between 2007 and 2012, the state gained 21,162 clean energy jobs during the same period, the study also found.

According to the 2012 NC Clean Energy Industries Census released last October, North Carolina is home to over 1,100 companies serving the clean energy industries, which include businesses related to renewable energy, energy efficiency, high-performance building, the smart grid, energy storage and electric vehicles.

The full report is available here.



Trachte Inc._id1770
Latest Top Stories

Setting The Record Straight: How Many Birds Do Wind Turbines Really Kill?

Several peer-reviewed studies are more or less in agreement with avian mortality rates caused by wind turbines. However, one study, which is wildly off from the others, is most often cited in the media. Why?


Six Takeaways From The IRS' Start Of Construction Guidance: What You Need To Know

The IRS recently issued guidance to wind developers to further spell out what "start of construction" means. Will you be covered?


Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.

Canwea_id1984
Renewable NRG_id1934
UnitedEquip_id1995
Tower Conference_id1965