INDEPENDENT REPORT: MAINE INVESTMENT IN RENEWABLES YIELDS JOBS AND ECONOMIC SHOT IN THE ARM

Posted: February 28, 2012 | Energy, Utilities and Technology, News Items, Senator Bartlett

AUGUSTA—Maine state lawmakers on the Legislature’s Energy, Utilities and Technology Committee were presented report findings analyzing the economic impact of Maine’s renewable energy strategy. The independent analysis was prepared by London Economics International (LEI) and found that an ongoing investment in Maine’s energy strategy will create 11,700 jobs in Maine and increase Maine’s “gross state product” by $1.1 billion.

“At a time of great economic distress, Maine’s renewable sector has been a beacon of economic growth. This is proof-positive that the policies we put in place, are making Maine a regional and national leader in renewable energy,” said Senator Phil Bartlett of Gorham, who also serves on the Energy, Utilities and Technology Committee. “This is good for our economy, it’s good for Maine people, and it’s good for our environment.”

The report affirms that Maine’s renewable energy strategy is beneficial for the state, and that Maine’s economy stands to gain significantly from the effort to diversify our energy mix away from expensive fossil fuel-based sources.

The findings in the study raises questions of the LePage Administration’s assertions about the impact on the economy of our renewable energy policies and investments.

“Maine is leading the region in renewable energy priorities. Based on what we learned today, we cannot stop here,” said Sen. Bartlett. “We have the playbook for how to lower energy costs for Maine households, create jobs, and give a shot in the arm to Maine’s economy.”

The report comes on the heals of a report presented last week by the Efficiency Maine Trust. That report revealed that since becoming an independent entity, the Efficiency Maine Trust has had its best year, helping Maine consumers and businesses reduce their energy costs.

“What we have learned over the past two weeks is that Maine’s energy policy is working,” said Bartlett. “Our emphasis on energy efficiency and renewable energy is yielding dividends by lowering energy costs and creating jobs.”

The LEI report resulted from the Committee’s evaluation of Governor LePage’s energy bill last session whereby the bill was turned in to a Resolve directing the Public Utilities Commission to conduct an independent analysis of the cost and benefits of Maine’s Renewable Portfolio Standard.