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 Groups Add Momentum to Extending Child Tax Credit

Congress negotiates an omnibus bill which would continue corporate tax breaks, it will also extend and make permanent the expanded Child Tax Credit.

Dental Therapists Work to Gain Support in Florida, Congress

Inside a massive appropriations bill now in Congress is a provision which would allow federal funding for dental therapists.

A Detailed View of The Window Frosting Glass with The Selection Features

The modern choice of window frosting glass can serve your privacy concerns and is preferred for commercial buildings and residential homes.

Sustainable Circle of Renewable Energy

Hyperproduction that we have nowadays require vast amounts of energy. Based on the theory of conservation of energy,
- Advertisement -

Should you tell customers how long they’ll be queuing for this Holiday Season?

Companies should partially hide information on how long the queue is if their products are highly popular and valuable

9 Reasons Why You Need a Car Locksmith

Locks are essential to our safety and security, and a professional car locksmith can help keep them in working order. Read now!
edealo.com
- Advertisement - Motel 6
transformerscon

Must read

Top Huda Beauty Lipstick Shades to Buy Online

A lipstick helps a woman achieve the perfect look. In other words, every woman must have a decent collection of lipsticks.

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.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you