Investor Presentaiton
At the end of 2020, we published West Virginia's Energy Future, demonstrating
that a major ramping up of renewable energy in West Virginia
through 2035 would be cost-competitive and create economic
opportunities for the state.
Now, we have updated our analysis to show the
potential impact of President Biden's American Jobs
Plan currently being considered by Congress.
Taking into account key provisions from the
American Jobs Plan,' our modeling shows that
building a Clean Innovation Pathway to 80
percent emission-free power in West Virginia
would:
• Cost $855 million less through 2040 than
our current trajectory for power resources.
• Cause a net increase in employment in
West Virginia equivalent to 3,508 full-time
jobs through 2040.2
• Grow total earnings for West Virginia
residents by $172 million annually (on average
from 2021-2040).
• Cause $20.9 billion of investment in new power
plants in West Virginia, including 10,600 megawatts
of solar, 5,300 megawatts of wind, and 4,984
megawatts of energy storage installations through 2040.
• Expand state GDP by $322 million annually (on average from
2021-2040).
• Achieve 79.4 percent emission-free electricity generation in 2030 and
continue to increase thereafter.
If the American Jobs in Energy Manufacturing Act sponsored by Senator Joe Manchin is enacted as
part of the American Jobs Plan, 3 our analysis shows that it would:
• Catalyze an additional $1.7 billion in manufacturing investments in West Virginia.
• Create 3,250-4,350 manufacturing jobs in West Virginia, plus 9,300-12,400 jobs created indirectly
from the manufacturing investment - on top of the 3,508 jobs discussed above.
• Generate $610-810 million in additional annual labor income across all sectors in West Virginia,
including $290-390 million in the state's manufacturing sector.
1
Our comparison of West Virginia energy scenarios specifically incorporates the American Jobs Plan's "path to achieving 100 percent carbon-free electricity by
2035" and the associated ten-year extension of clean energy tax incentives. For the details of the ten-year clean energy tax credit extension, we relied on the legislative
proposal sponsored by Senator Ron Wyden (D-OR). S. 1298, 117th Cong. (2021).
2 These employment impacts are calculated on a net basis, taking into account all upstream and downstream effects from the proposed energy scenarios.
3 S. 622, 117th Cong. (2021).
BUILT BACK BETTER
1
WEST VIRGINIA'S ENERGY FUTURE
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2View entire presentation