New Report: EWR Would Drive Billions in Economic Activity, Create Thousands of Local Jobs
The report by Gabel Associates, a leading energy research firm, finds that greater investment in EWR would create an economic windfall of billions for Ohio.
The study quantifies the potential benefits associated with energy waste reduction in Ohio at three levels – reducing energy consumption by 1%, 1.5%, and 2% per year – and found that these initiatives will produce significant benefits for Ohioans over the next ten years. These benefits accrue in four main ways. Download the report top lines or read more below.
ECONOMIC & JOBS BENEFITS
Ohio would add $3.6 billion to its economy and create 129,488 job- years.
These benefits would be realized by ramping up investments in energy-saving programs that help Ohio residents and businesses upgrade their buildings, improve manufacturing production lines, install new sensors and controls, and otherwise cut energy waste. Energy waste reduction programs employ thousands of Ohioans, stimulating many sectors of our economy like the construction and home improvement industries. Additionally, money saved by customers on their utility bills is injected into the local economy – strengthening local restaurants, stores, and businesses.
AIR & HEALTH BENEFITS
Energy waste reduction programs would prevent air pollution that sickens Ohioans and ups our health care costs by increasing asthma attacks, hospital visits, heart attacks, and respiratory disease.
The report quantifies the economic benefit of these public health improvements at $14.2 billion, and the programs would prevent the emission of more than 140 million tons of carbon dioxide, 103 thousand tons of sulfur dioxide, 93 thousand tons of nitrogen oxide, and more.
ELECTRIC BILL SAVINGS
Ohio electricity customers would save $9 billion on electric bills over the next ten years by slashing their energy use.
The money Ohioans save would be injected back into the local economy – strengthening restaurants, businesses, and stores – and generating a ripple effect of economic stimulus. Now, more than ever, we need initiatives that pay for themselves, create jobs, increase wealth, and position our state to recover quickly as the economy reopens. Energy waste reduction is that investment.
UTILITY SYSTEM BENEFITS
Ohio electric utilities would save $5.3 billion by preventing unnecessary investment in utility infrastructure.
Energy waste reduction programs displace traditional power generation and reduce the need for future infrastructure expansion in generation, distribution, and transmission. The displacement of traditional generation reduces system costs and saves all customers money through reduced bills in future years.
Energy waste reduction is the investment Ohio needs.
Ohio had energy waste reduction programs in place for a decade, saving Ohioans money and providing substantial benefits. However, the passage of House Bill 6 in 2019 dismantled these programs, and no alternative or voluntary programs have been instituted.
Now, more than ever, we need initiatives that pay for themselves, create jobs, increase wealth, and position our state to recover quickly as the economy reopens. Energy waste reduction is that investment.