2019 Economic Impact Analysis of Clean Energy Development in North Carolina
RALEIGH, N.C., May 14, 2019 – North Carolina Sustainable Energy Association (NCSEA) today announced the release of the Economic Impact Analysis of Clean Energy Development in North Carolina—2019 Update report. RTI International conducted the report to identify associated economic impacts of clean energy development (renewable energy and energy efficiency) in North Carolina and identified that, from 2007-2018, the total economic impact from clean energy project development in the state was $28.2 billion, with 32 percent of the cumulative clean energy investment over the last 12 years occurring in 2017 and 2018.
Researchers found that in 2018 alone renewable energy project development invested $1.9 billion, or 97 times the investment observed in 2007. These clean energy project investments are not relegated to only one part of the state. Rather, projects are widely distributed across North Carolina and bring economic investment to all 100 North Carolina counties. In fact, some of the most rural and economically-challenged counties in North Carolina were the ones that saw the greatest amount of clean energy investment from 2007-2018. Duplin and Robeson Counties each experienced over $600 million in investment, while Anson, Bladen, Bertie, Catawba, Cumberland, Currituck, Halifax, Nash, Scotland, and Wilson Counties all experienced over $300 million in clean energy investment. Overall, there are 42 North Carolina counties with over $100 million in investment (up from the six identified in the 2015 Update of this report).
“This report evidences that clean energy has become an important sector in our state's economy. Policies that have been adopted in North Carolina show that market competition, even in a limited amount under North Carolina’s century-old utility regulatory framework, can create economic development opportunities, jobs, investments, and financial savings for all North Carolinians. This report offers a glimpse into what our clean energy economy is capable of; imagine the investment we would see if North Carolina embraced true regulatory reform and allowed our clean energy economy to realize its full potential. We look forward to continuing our work with elected officials, NCSEA's members, and partners to modernize how North Carolina regulates electricity in order to allow the full potential of our clean energy economy to come to fruition,” commented Ivan Urlaub, Executive Director of NCSEA
The Economic Impact Analysis of Clean Energy Development in North Carolina report is commissioned by NCSEA and published annually to capture the economic impacts of new clean energy investment. RTI has performed this analysis since 2014. The 2019 update captures results from investments made in 2017 and 2018.
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About North Carolina Sustainable Energy Association
North Carolina Sustainable Energy Association (NCSEA) is the leading 501(c)(3) non-profit organization that drives public policy and market development for clean energy. Our work enables clean energy jobs, economic opportunities, and affordable energy options for North Carolinians. Learn more about NCSEA, our mission, and vision at www.energync.org.
About RTI International
RTI International is an independent, nonprofit research institute dedicated to improving the human condition. We combine scientific rigor and technical expertise in social and laboratory sciences, engineering, and international development to deliver solutions to the critical needs of clients worldwide. For more information, visit www.rti.org