A recent study shows the wind industry spent $442m in the state of Oklahoma over the last 10 years


A recent study shows the wind industry spent $442m in the state of Oklahoma over the last 10 years

wind industry

 
A report, commissioned by the Wind Coalition and produced by the Economic Impact Group looked at wind industry developments from 2003 to 2012 and determined $442m was invested in Oklahoma.
 
The study includes 26 wind farms located in: Beckham, Caddo, Canadian, Comanche, Custer, Dewey, Garfield, Grady, Grant, Harper, Kay, Kiowa, Roger Mills, Washita and Woodward.
 
So why has Oklahoma been an ideal spot for wind energy? It has some of the best winds in North America, but it also provides great incentives, including a five-year property tax exemption. Once these exemptions are up, the wind industry will be paying around $43m in property taxes and $22m in annual royalty payments to landowners.
 
The report states:
 
“Utilities have additionally recognized the benefit that wind energy can bring to their consumers and shareholders by offering a long-term fixed price contract for up to 20 years… There is no potential fluctuation in fuel prices, which protect ratepayers from the volatility inherent in global fuel prices.”
 
Not only does the state benefit from money spent from wind developers and the cost saving of renewable energy, but it also benefits from the jobs created by these large projects.
 
What do you think of the wind industry’s economic contributions? Is wind energy becoming a mainstream source of electricity?
 

Posted By Sally on March 28, 2014 | 0 Comment

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