A newly revised analysis of jobs and economic impacts shows that implementing the New York Solar Jobs will lead to over 40,000 new jobs and over $55 billion in additional economic output.
The analysis was completed using the U.S. Department of Energy National Renewable Energy Laboratory “JEDI” modeling tool. JEDI stands for “Jobs and Economic Development Impacts” model. The graphic below shows what it measures.
What’s it gonna cost to get those jobs and new economic development? Negative 4.7 billion dollars going out to 2035. In other words, New York will save over $4.7 billion through 2035 by passing the New York Solar Jobs Act (represented by the area in blue in the graphic below). Focusing strictly on the cost portion of the ledger (the red area in the graph), our rate impact analysis shows it will cost less than 1 percent of our total statewide electricity bill in any given year. For added assurance, the program has its own cost control cap that is set at 1.5% of the statewide total electricity spend.
To sum up we will spend $4.7 billion less on electricity through 2035, gain 40,000 new jobs, pump $55 billion into the New York State economy and have over 3 percent of new, homegrown, fossil fuel-free, energy independent electricity for less than 1 percent of what we spend on electricity each year.
Why wait any longer New York? In addition to falling behind the race to develop clean energy and start a new in-state, self-sustaining economic development and job machine, perhaps this statistic may be most salient in these times of lean public budgets:
New York loses over $1.5 billion in federal investement money for every year of delay in reaching its full solar potential.
Help us tell Albany lawmakers that it’s solar’s time to shine in the Empire State.