TAB CEO, Glenn Hamer, and Policy Manager, Rebecca Grande, traveled to Bastrop for a conversation on the Economic Benefits of Renewable Energy. Big thanks to Becki Womble at the Bastrop Chamber for hosting!
Companies come to Texas because we have no state income tax, a light regulatory touch, robust infrastructure, and economic development incentives. As the state’s population and manufacturing base grows, so do our state’s energy needs. TAB advocates for an all-the-above approach.
Texas energy companies have proven that advancing the oil and gas industry and protecting the environment are not mutually exclusive. Energy is made more reliable when government allows the free market to work.
The growth of renewable energy has been a significant source of revenue for local jurisdictions and landowners across Texas. Existing utility-scale wind, solar, and battery projects can generate over $8 billion in revenue to local communities, and over $11 billion in payments to Texas landowners over the lifespan of these projects. Planned projects bring the total revenues even higher, giving local communities over $15 billion in tax revenue and Texas landowners over $21 billion, with over 60% of these projects being held in rural counties.
Texas has the resources, workforce, and expertise necessary to deploy renewable projects across the state. The energy workforce continues to be supported and enhanced through the funding of career and technical education programs, as well as utilizing partnerships with local employers to determine workforce needs.
Policy changes that reduce renewable or storage deployment in Texas will reduce these benefits, which are a lifeline to many rural communities across the state. Elected county leaders in various areas across the state support the use of renewable energy projects, as they can confidently provide consistent long-term revenue streams for the locality.
For more information on the economic benefits of renewable energy, read this report.
Blog by Rebecca Grande, Policy Manager