The Michigan Department of Environmental Quality has released a report that quantifies the benefit that an increased emphasis on alternate fuels would accrue to the economy.
Excerpt:
The study projects from the year 2006 to 2025 and includes two sets of models that calculate impacts from aggressive and moderate renewable portfolio standards.
The results show that during the period 2007-2020, the implementation of a moderate RPS, 7 percent by 2016, would grow Michigan’s GSP by $194 million and create 2,020 jobs, while implementing an aggressive RPS, 15 percent by 2025, would grow the GSP by $533 million and create 6,381 jobs.
The study further shows that combining an aggressive RPS with aggressive energy efficiency efforts will substantially increase the benefits from doing either alone.
“The results of this study clearly demonstrate the environmental and economic benefits of adopting a renewable portfolio standard and energy efficiency programs for Michigan,” said DEQ Director Steven E. Chester. “Undertaking these actions is a demonstration in leadership and an investment in our state’s future.”
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