BusinessEnvironmentWindonomics 101: Measuring Financial Side of Wind Energy

Windonomics 101: Measuring Financial Side of Wind Energy

-

- Advertisment -sslate

North Dakota has seen major growth in wind energy, but turbines help with more than just power supplies, according to new research measuring the industry’s economic footprint.

Since 2002, North Dakota State University (NDSU) researchers showed wind energy production in North Dakota has gone from nearly five megawatts of production capacity to more than 3,600.

Dr. Nancy Hodur, director of the Center for Social Research at NDSU, said coinciding with that growth is the economic value, which the latest data pegs at $1.2 billion in total business volume for the state. She added the figures are concrete industry numbers.

“You know, we’re not relying on estimates or secondary data, or some guess about what it looks like in some other state and applying it to North Dakota,” Hodur explained.

wind

She argued the figures are important as stakeholders evaluate investments in renewable-energy projects.

The report also showed direct property taxes paid by wind farms doubled from nearly $6 million in 2015 to more than $10 million in 2019. When measuring employment, researchers pointed out wind energy recently accounted for more than 3,400, including direct and non-direct positions.

According to the study, land-lease payments from wind farms totaled $19 million dollars in 2019.

Dean Bangsund, research scientist at NDSU, said most of that went to property owners living in the state.

“In other words, we’re not exporting value out of the state as the result of consuming land in North Dakota,” Bangsund reported.

Jon Baker, development director for the wind farm firm 0rsted North America, said while projects can still encounter pushback at the local level, they certainly help with budget stability.

“Rural counties with lower population, if the wind farm comes in and pays tens of millions of dollars of property taxes over the life of the wind farm, that can be a substantive impact to local county budgets,” Baker contended.

wind

He warned grid capacity remains a big challenge in the upper Midwest, which can stall development even when permits are approved.

Sunshine Slate
Sunshine Slatehttps://www.sunshineslate.com
Sunshine Slate is your news, entertainment, music fashion website. We provide you with the latest breaking news and videos straight from the United States of America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Florida’s Child Well-Being Report Card Shows Increase in Mental Distress

Children's advocacy groups are calling on lawmakers to do more to improve the well-being of Florida's kids.

Top Reasons That Show Why Roof Restoration Is Necessary?

These are just five of the major advantages of roof restoration to contemplate a potential home seller. Roofing sustenance is a crucial...

What does the Future hold for Education?

The GED is the only higher secondary certificate available in over 85 countries and accepted by nearly all universities in the US and many across the world.

Peer-Reviewed Study Shows Measurable Impact on Employee Health and Productivity from Employee Assistance Program

Five-year longitudinal analysis finds 84 percent of employees with depression and 78 percent with alcohol use concerns migrated to low- or no-risk after EAP treatment.
- Advertisement -

Multi-State Conservation Plan to Protect Salt Marshes

Conservation groups along several states on the East coast stretching from North Carolina to northeast Florida are working through a plan to conserve one million acres of salt marsh nearly the size of Grand Canyon National Park.

Best Apps for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.
edealo.com
- Advertisement - Motel 6
transformerscon

Must read

Best Apps for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

4 Easy Ways to Treat Yourself

Even the little act of purchasing new socks can make a great difference to your sense of contentment. Rather than purchasing impractical gifts, you could make life more enjoyable by spending less money on treats that make you happy at that moment.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you