Large-scale clean energy projects announced in Georgia in just the first year of the federal Inflation Reduction Act (IRA) are projected to create or support almost 39,000 jobs and generate tens of billions of dollars in new wages, tax revenue, and economic growth, according to a new economic analysis by BW Research for the national nonpartisan business group E2. The analysis was released in conjunction with the Georgia Clean Economy Summit in Atlanta, hosted by E2, the Georgia Solar Energy Association, Black Owners of Solar Services and the Southeast Energy Efficiency Alliance.
Georgia Clean Economy Works: An Economic Impact Analysis of Major Clean Energy, Vehicle Projects modeled the direct, indirect, and induced economic benefits created by 19 clean energy and electric vehicle projects announced across Georgia between August 2022-August 2023. When completed, the analysis found that these projects would:
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Create or support 31,800 jobs during the construction phase and 6,800 jobs after the projects are up and running;
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Add $13.9 billion to Georgia’s Gross State Product (GSP) during construction and $926 million annually to the GSP over their operational lifetime;
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Generate $10.2 billion in wages for workers during construction and and $565 million annually during operation; an
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Generate $2.6 billion in federal, state, and local tax revenues during the construction phase and $175 million annually during operation.
While the analysis only covers 19 projects announced in the first year of the IRA, at least seven other major clean energy and clean vehicle projects directly connected to the landmark federal policy have been announced since then, according to E2’s research. That makes Georgia the nation’s leader in IRA-related clean energy and clean economy projects.
The Georgia report is based on E2’s national analysis of the jobs and economic benefits created by projects directly tied to the clean energy investments and incentives…
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