NCSEA Report Shows Clean Energy’s Positive Impact on NC Economy

A report released earlier today by the North Carolina Sustainable Energy Association (NCSEA) highlights the positive impact that clean energy has on the North Carolina economy, as well as utility rates throughout the state. NCSEA commissioned RTI International and La Capra Associates, Inc. to complete, “an economic analysis of the impacts of clean energy policy in the state.” The complete impact can be found in the full study, The Economic, Utility Portfolio, and Rate Impact of Clean Energy Development in North Carolina.

Key findings include:

– Clean energy policies will lead to $173 million in cost savings for electricity customers by 2026, costing customers less than they would have paid without these policies in place.

– The state experienced a net gain of 21,162 clean energy development jobs from 2007 – 2012, while the NC economy as a whole lost 100,000 jobs during the same time period.

– For every $1.00 of incentive tax credits taken by renewable energy projects between 2007 and 2012, $1.87 was generated in state or local revenue. Clean energy policies have generated $113 million for NC since 2007.

– As shown in the graph above, in all but a few years customers can expect savings in the generation portion of their electric bills as a result of clean energy policies such as REPS, state and federal tax credits, and energy efficiency incentives. For a typical North Carolina residential customer, the monthly savings amount to almost $0.50 in 2012 and more than $1.00 by 2024.