Florida’s Economic Growth Requires Renewable Energy

By embracing the opportunity posed by renewable energy, Florida has the potential to create thousands of new jobs and bolster the state's economy by several billion dollars, according to a study released by Global Energy United.

The study, which was conducted by the Washington Economics Group (WEG), comes as the state legislature is considering policies that would expand Florida's economy, particularly in the area of solar power.

‘This study demonstrates that a significant opportunity exists for Florida's economy to expand beyond tourist and real estate dollars and into the research, development and manufacturing of clean energy technologies,’ says Josh Kellam of Global Energy United.

Specifically, the report indicates that hypothetical renewable energy legislation calling for 700 MW in increased capacity would potentially create 40,000 new jobs over time, and expand total economic activity in Florida by $8.1 billion. Strong policy would add an additional $2.1 billion in wages across various industries – particularly in manufacturing, construction, and research and development.

WEG found that this policy, if implemented, could generate $4 billion of direct investment in solar power generation projects, spurring the development of a robust and prosperous renewable energy industry.

Texas and New Jersey have policies that have led to hundreds of millions invested in renewable energy technologies, Global Energy United notes. New Jersey alone has seen more than 25,300 jobs and $282 million in private investment because of the state's Clean Energy Program.

‘As this study shows, renewable energy such as solar power is a key source to potentially generate high-wage, high-skilled jobs in Florida,’ says Tony Villamil of WEG. ‘This fact needs to be seriously considered as lawmakers debate this legislation.’

For more information on the study, click here.

SOURCE: Global Energy United

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