Investment in renewables creates added value and local jobs – study
Clean Energy Wire
Up to two thirds of the gross value added by investments in local energy infrastructure and production remain in the German state where the investment takes place, an analysis by consultancy E&Y commissioned by utility association BDEW has found. Up to one fifth of the investment remains in the region where wind parks, solar PV installations, charging stations or production of climate-neutral gases are established, creating growth and jobs, BDEW writes in a press release. The construction of one gigawatt onshore wind energy secures 13,500 jobs, one third of which are located in the region of the wind park. The BDEW also highlights that the transformation of electricity production to reach the 2030 climate target, building a modern energy infrastructure and grid, public e-car charging stations and the ramp-up of the hydrogen economy would trigger investments of 320 billion euros, and could secure and create around 270,000 jobs across Germany.
The analysis examines 20 representative examples of investments in the energy sector but the authors caution that the microeconomic data for a precise analysis of the local and regional effects are not available since the location of suppliers for all contracts related to investment in a region are not known. They instead use an exemplary approach and a model to determine the regionalised effects for value added and income.