Date: 7/15/09
Contact: David Loomis (309)438-7979 or (309)533-3197
The wind energy industry in Illinois is projected to generate $1.9 billion in economic benefits for the state over the next 25 years. That is the conclusion of a new economic impact study of wind energy development conducted by Illinois State University’s Center for Renewable Energy.
“Wind energy in Illinois not only provides clean, renewable energy for the state’s energy needs but also provides tremendous economic development benefits,” said David Loomis, director of the Center for Renewable Energy and an associate professor of economics at Illinois State.
The study examined the direct and indirect economic benefits, including jobs, tax revenues and payments to landowners, from the 17 major wind development projects online around the state. Those wind farms currently generate a total of 1,118 megawatts (MW) of electricity. Research for the study was funded by a grant from the Illinois Department of Commerce and Economic Opportunity.
The study found that the wind energy projects created 6,019 full-time equivalent jobs during construction periods with a total payroll of over $306 million. They also support 292 permanent jobs in rural Illinois areas with a total annual payroll of over $15 million.
Wind energy projects benefit local economies by generating $11.4 million in annual property taxes and $4.36 million per year in extra income for Illinois landowners who lease their land to wind farm developers. In total, wind energy will generate an economic benefit of $1.9 billion over the life of the projects.
As of March 31, Illinois ranked 10th in the United States in existing wind-powered generating capacity and ranked 16th in the nation in potential capacity. A number of factors have contributed to the rapid growth of wind power capacity in Illinois from 50 MW in 2003 to over 1,000 MW in 2009, including federal and state policies, energy security, energy costs, environmental benefits, and economic development opportunities. One key policy driver in Illinois was the passage of the Illinois Power Agency Act in 2007 which included a renewable portfolio standard of 25% by 2025, of which 75% of the renewable energy resources must come from wind.
The Center for Renewable Energy supports the renewable energy major at Illinois State, serves the Illinois renewable energy community by providing information to the public, and encourages applied research on renewable energy at Illinois State and through collaborations with other universities. www.renewableenergy.ilstu.edu
