DENVER – Today, Governor Bill Ritter joined clean energy advocates to announce a new Environment Colorado Research and Policy Center report entitled “Energy for Colorado’s Economy.”
The report shows substantial increases in economic and environmental benefits if Colorado were to double its use of renewable energy, such as wind and solar power, to 20% by 2020.
“This
report shows we can fulfill the Colorado Promise,” said Gov. Bill
Ritter. “By doubling our use of renewable energy to 20 percent, Colorado’s gross domestic product will increase by $1.9 billion.”
“More
clean, homegrown energy means more jobs and higher wages paid for
Coloradans,” continued Ritter. “Increasing our use of renewable energy
would bring over 4,000 high-paying, high-skilled jobs and over $570
million in wages paid to our state.”
The
economic boon would come from increased manufacturing, installation,
and operation of renewable electricity production. The report compares
economic and environmental benefits of three alternative polices on
electricity production, including: “business-as-usual” with fossil fuel
production, Amendment 37 which set a 10% renewable energy standard, and
the 20% goal currently being considered by the Colorado state
legislature.
The
Environment Colorado report found job creation was 4.3 times higher,
wages paid was 2.2 times higher, and an increase in gross domestic
product was 1.9 times higher for a 20% renewable energy standard than
under Amendment 37.
“We
have only just begun to tap the potential of a New Energy Economy,”
said Ritter. “Continued investment in clean energy helps our state
ensure economic prosperity.”
The benefits of renewable energy are not only a win for Colorado’s economy, but investing in renewable energy has major payoffs for the environment.
“Expanding
our use of renewable energy is the first sensible step we can take to
tackle global warming,” said Will Coyne, Program Director for
Environment Colorado. “We could avoid over 41 million metric tons of
global warming pollution by using more clean energy.”
The
report shows that a 20% renewable energy goal would also result in
significant reductions of soot, smog, and mercury pollution. Also,
since wind and most solar resources use a negligible amount of water
compared to fossil fuel sources, Colorado could save over 18 billion gallons of water by 2020.
“Our
report shows that the benefits of a 20% renewable energy standard are
even greater than we had thought for our environment and our economy,”
said Coyne.
The vast majority of Colorado’s
best wind and solar resources are found primarily in rural parts of the
state. Increasing development of renewable resources provides the best
opportunity for economic development and job creation in what are often
struggling rural communities.
Lee
Swenson, Executive Director of the Rocky Mountain Farmers Union, a
longtime advocate of renewable energy on the federal and state level,
spoke at the press conference.
“Increasing our use of wind and solar power will help continue to unlock the economic potential of rural Colorado,” said Swenson. “Colorado
farmers benefit most from homegrown power and earn anywhere from $4,000
to $7,000 for each windmill on their farms. Increasing the
opportunities for community-based energy generation, on farms and
ranches, will provide even greater economic benefits and returns to the
rural economy.”
Wind
farms not only provide revenues to landowners, but it also increases
the local tax base creating new funding for education and local
government services. The Colorado Green wind farm in Lamar raised the
property tax base by $32 million in one year.
“Expanding Colorado’s renewable energy standard to 20% would mean over $400 million for the local communities,” said Swenson.
By
increasing the demand for renewable energy and facilities, one of the
last nearly untapped areas for economic development is manufacturing.
Craig Cox, Executive Director of Interwest Energy Alliance, explained
how strong renewable energy policies help build the manufacturing
sector.
“A
robust local renewable energy market is one of the number one things
manufactures will need before deciding to setup shop,” said Cox. “By
doubling Colorado’s renewable energy standard to 20% by 2020, we become a competitive state for new manufacturing facilities.”
Littleton
based-Ascent Solar is currently building a manufacturing facility for
its thin-film photovoltaic systems, and the Danish Vestas Wind Systems
is engaged in negotiations for a wind turbine manufacturing facility in
Weld County.
