Renewable Energy has an enormous impact on Jobs and the Economy. A true “all of the above” approach creates a diverse energy portfolio that will increase jobs, save businesses and homeowners money, making Michigan an attractive place to do business. Michigan manufactures, researchers, engineers and scientists are creating the next generation of wind turbines, solar panels and fuel-efficient vehicles. Expanding our use of clean energy will allow us to build upon our manufacturing strength, talent and know-how to transition into the high tech jobs and economy of the future.
Having a diverse renewable energy portfolio makes Michigan an inviting place to live and work. It also boosts the economy by creating jobs and saving businesses money. More than 25,000 Michiganders are employed by the renewable energy sector and Michigan ranks in the top 10 in renewable energy jobs. According to the Hill Group’s study "Economic Impact of Two Renewable Portfolio Standard Scenarios in Michigan, 2015 to 2025” a 20% renewable energy portfolio by 2025 would result in a total output of $6.57 billion, more than 41,000 job-years supported and $2.11 billion in employee compensation.
Improving Energy Efficiency saves money and electricity; for every $1 invested in energy efficiency programs customers save more than $3.55 in energy costs. That is $3.55 that businesses can use for jobs, consumers can use for groceries and families can use for college savings. The investments in energy optimization have exceeded $736 million and have saved Michigan residents and businesses more than 3.4 million megawatt hours (MWh) of electricity. According to the “Economic Impact of Energy Optimization Program Scenerios in Michigan, 2014-2023” done by the Hill Group removing the existing budget cap and pursuing all achievable, cost-effective energy efficiency – shows potential for $22 billion in economic output including 163,000 supported job years and $7.6 billion in employment compensation.