Economic Impact of Stimulus Investment in Advanced Energy
White Papers, 2020–2021
In a series of independent reports, Principal Paul Hibbard and Vice President Pavel Darling reviewed the potential economic impacts of applying stimulus funds to develop advanced energy technologies, products, and services in a number of states. Funding for the reports was provided by Advanced Energy Economy (AEE), a national association of businesses committed to promoting secure, clean, and affordable energy.
The reports focused on how stimulus spending on programs and infrastructure in advanced energy technologies can generate economic activity while also helping each state progress its individual energy and climate goals. The findings covered a range of advanced energy technologies and services, including energy efficiency, renewable energy (solar and wind), electrification of buildings, electrification of transportation (electric vehicles and charging infrastructure), energy storage, grid modernization (smart meters and microgrids), and high-voltage transmission. The reports’ authors estimated the overall contribution of these investments to each state’s economy, including the level of private spending and investment that would be stimulated, the number of jobs created, and the amount of consumer savings on energy costs.
In each of the states, study results pointed to strong economic benefits associated with advanced energy technology investments.