GEA: stable jobs and substantial economic benefits through geothermal
New information based on a survey of the U.S. industry and released by the Geothermal Energy Association (GEA) explores the economic benefits geothermal facilities bring to communities where they operate.
According to the U.S. Energy Information Agency, geothermal power is a long-term consumer bargain for the western power grid. New information based on a survey of the U.S. industry and released by the Geothermal Energy Association (GEA) explores the economic benefits geothermal facilities bring to communities where they operate. GEA reports substantial revenues from taxes and royalties to state and local governments, long-term local employment and millions of dollars in environmental benefits.
“The Additional Economic Benefits of Geothermal Energy” found:
- In 2013, geothermal power producers paid $29 million dollars in annual property taxes, including $21 million dollars to the State of California.
- A 50-MW geothermal plant will require 310 person-years of construction and manufacturing employment.
- An average 50-MW facility will create permanent employment for about 100 people.
Properly developing the remaining identified geothermal resources estimated by the U.S. Geologic Survey to exist in the State of California alone could add 2,500 permanent on-site jobs, another 20-30 million dollars in property tax revenue for the state and almost 15,000 construction and manufacturing jobs.
The Issue Brief was prepared by GEA’s Analyst & Research Project Manager Benjamin Matek. He said, “The report supports the view of the industry, EIA and others that geothermal development is by far among the most economically beneficial out of the renewable resources available to western states.”
He added, “These plants bring substantial economic benefits to communities through permanent employment, property taxes, rents and royalties. Building one small geothermal plant in a community can generate $6.3 to $11 million dollars in property taxes that can be used toward education or other local services and provide 20-30 permanent jobs.”
The Issue Brief builds upon previous GEA reports and on new data collected in January 2015.
For a copy of the Issue Brief, go to: http://geo-energy.org/reports.aspx
Source: Press Release from Geothermal Energy Association