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PRESS CONTACTS: Patrick Mitchell, (703) 276-3266, [email protected].
New Report: Rolling Back Clean Power Plan Would Derail Opportunity to Create 5,600 New Jobs in Colorado and $400 Million in Economic Growth by 2030
Trump Administration’s Rollback of the Most Important Domestic Clean Energy Policy in U.S. History Represents a Major Missed Opportunity for the Centennial State’s Economy
DENVER (June 21, 2017) – Rolling back the Clean Power Plan means Colorado’s economy could lose out on an opportunity to create 5,600 new jobs and grow the state’s gross domestic product (GDP) by $400 million by 2030, according to a new analysis from the national, nonpartisan business group Environmental Entrepreneurs (E2) . The analysis also shows that incremental energy efficiency savings through the Clean Power Plan could reduce annual average household electricity bills by 7 percent in 2030.
The report – Lost Opportunity: How Rolling Back the Clean Power Plan Harms America’s Economy – is available here.
“Colorado businesses and residents understand the economic value of clean energy as much as anyone else in the country. Our big wind farms, solar arrays and energy efficiency businesses have been putting people to work in urban and rural areas across the state for years,” said RJ Harrington, president and CEO of Colorado-based National Car Charging.
“Instead of rolling back strong federal clean energy policies like the Clean Power Plan, lawmakers in Washington should be taking more of their cues from the economic successes our state’s strongest clean energy policies have sparked.
“Our company is working with dozens of international clients who are looking to expand business in Colorado and nationwide through the lens of the Clean Power Plan. They have indicated they will look to China, India and other markets as America cedes leadership,” Harrington said.
In March, the Trump administration signed an executive order to begin the lengthy rulemaking process of attempting to roll back the Clean Power Plan, which sets the foundation for states to reduce carbon pollution from existing power plants by expanding the availability of clean, renewable energy and improving energy efficiency. Rolling back the Clean Power Plan, especially following President Trump’s withdrawal from the Paris climate agreement, could prevent America from becoming a global leader in the fast-growing clean energy sector.
“Instead of weakening or rescinding the most important domestic clean energy policy in our nation’s history, lawmakers in the White House, on Capitol Hill and in Denver should pursue smart clean energy policies that support energy efficiency, renewable energy, electric vehicles and grid modernization,” said Bob Keefe, E2’s executive director.
The report examines how different scenarios designed to meet the Clean Power Plan’s carbon emission standards would impact the U.S. economy. The scenario creating the most jobs and giving GDP the biggest boost in 2030 is a mass-based compliance approach, coupled with stronger investments in energy efficiency, reaching savings levels of 2 percent in annual electricity sales.
The analysis details the economic impacts of such a scenario for 15 different states, including Colorado. The Centennial State would experience net employment gains of 5,662 full-time jobs and $400 million in value added to the GDP in 2030.
“Rolling back the Clean Power Plan rolls right over Colorado’s economy,” said Susan Nedell of Louisville, Colo., E2’s Rocky Mountains advocate. “For a would-be jobs president, it’s actually Colorado workers who will suffer the most, with the competitiveness of cities like Denver and Fort Collins and smaller towns like Pueblo taking major hits, too.”
To speak with E2 members and other business leaders in Colorado who support efforts to expand America’s clean energy economy and oppose rolling back the Clean Power Plan, please contact Patrick Mitchell at (703) 276-3266 or [email protected].
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Environmental Entrepreneurs (E2) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.