Renewable Energy Plan in Legislature Can Lower Electric Bills and Increase Revenue to School Districts

Renewable Energy Plan in Legislature Can Lower Electric Bills and Increase Revenue to School Districts:
Renewable Electricity Standard Can Create 38,290 Jobs and Spur Rural Economic Development
Union of Concerned Scientists

AUSTIN, Feb. 15- Nearly 39,000 highly skilled jobs would be created in Texas if the state legislature passes a bill requiring 20 percent of the state's electricity come from clean renewable sources such as wind, bioenergy, and solar power, according to the new study released today by the Union of Concerned Scientists. Increasing the current Texas renewable electricity standard from about 3 percent by 2009 to 20 percent by 2020 would provide a significant source of new income for rural communities, save consumers money on their energy bills by reducing natural gas and electricity costs, and provide more tax revenues for school districts.

UCS analyzed the longer-term goals of both the 20 percent by 2020 and 10,000 MW by 2015 plans. The study, Increasing the Texas Renewable Energy Standard: Economic and Employment Benefits, found that increasing the current Texas standard to 20 percent by 2020 would boost the state's economy with benefits such as:

• 38,290 new high-skilled jobs in manufacturing, construction, operation, maintenance, and other industries.
• $9.4 billion in new capital investment for renewable energy facilities.
• $1.1 billion in new property tax revenues for local school districts.
• $696 million in revenue to farmers, ranchers, and rural landowners for producing biomass energy and from wind power land leases.
• $5.6 billion in savings on consumer electricity and natural gas bills.