1 / 17

Economic Benefits of Solar and Renewable Energy

Economic Benefits of Solar and Renewable Energy. PRESENTED BY BARRY BROOME, GPEC PRESIDENT AND CEO. Greater Phoenix Economic Council The Region’s Economic Development Organization.

clyde
Download Presentation

Economic Benefits of Solar and Renewable Energy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Economic Benefits of Solar and Renewable Energy PRESENTED BY BARRY BROOME, GPEC PRESIDENT AND CEO

  2. Greater Phoenix Economic Council The Region’s Economic Development Organization • A true regional model where public and private members collaborate to promote Greater Phoenix as a great place to grow business. • Supported by Maricopa County, 18 cities and towns, and more than 140 private-sector businesses. • The catalyst that strengthens the region’s economic base, ensuring it is both diversifiedand competitive.

  3. Recent Economic Trends in Arizona Dramatic Decline in Job Growth #19 #49 Source: U.S. Bureau of Labor Statistics

  4. Single Industry Model is Not Sustainable Arizona vs. Michigan: Jobs Lost by Industry Nov 2007-Nov 2008 Arizona’s Dependence on Construction* Construction Job Loss: 37% Michigan’s Dependence on Auto Industry* Manufacturing Job Loss: 31% * Construction represents about 8.6% of all private industry employment in Arizona. (2007) * Motor vehicle manufacturing represents about 6.2% of all private industry employment in Michigan. (2007)

  5. Solar a Fast-Growth Industry Global Solar Investment Trends • Total investment in solar energy reached $12B in 2007, from $66M in 2001. • Between 2004-2007, total investment increased by almost 20-fold. *Excluding government R&D and project finance investments Source: NEF / NREL / FACC

  6. Solar a Fast-Growth Industry Global Solar Investment Trends • Public offerings of solar companies grew rapidly (2005-2007), with 45, 64 and 88 offerings, sequentially. • $1.1B was raised (Q1-08) in 17 completed public-equity offerings. Source: NEF / NREL / FACC

  7. Solar and Renewable Energy are Important for the U.S. National Factors Driving Industry Growth Source: Navigant Consulting

  8. Opportunity to Capture Solar ArizonaStrategicallyPositionedforFullEconomicUpside AZ missing economic opportunities for high-wage jobs Consuming technology Producing power MAKING SOLAR REAL STRATEGICALLY POSITIONED PV distribution to housing Net-metering; APS & SRP; distributive technology Solana 85 jobs; $1B investment Schott: Lost to New Mexico 1,500 jobs and $586M investment; Supplier to APS & SRP

  9. GPEC’s Solar Pipeline Current Solar Projects • Includes PV and thin-film manufacturing, utility scale power generation, distributed generation, and supplier projects. • 11 projects in the pipeline, worth $5.2 billion in capital investment and 5,260 jobs, are eligible for the proposed tax credit program. Source: GPEC Jan 15, 2009

  10. What are the Economic Benefits? Sample Project Comparisons Based on actual projects from GPEC pipeline except for headquarters, which is a composite of past headquarter projects.

  11. What are the Economic Benefits? PV Manufacturer *Over 10 years

  12. What are the Economic Benefits? Thin-Film Manufacturer *Over 10 years

  13. What are the Economic Benefits? Glass Manufacturer *Over 10 years. **This project does not meet jobs-to-capital investment criteria.

  14. What are the Economic Benefits? Solar Headquarters *Over 10 years

  15. What are the Economic Benefits? Electrical Generation *Over 10 years

  16. Final Thought Renewable Energy + Economic Development For the same amount of land… or *Over 10 years

  17. Questions Thank You for Your Time! Barry Broome President and CEO Greater Phoenix Economic Council bbroome@gpec.org 602.256.7700

More Related