ABB_id2059
in News Departments > FYI
print the content item

The presence of the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) in Colorado is a $714 million annual boost to the state's economy, according to data compiled in a soon-to-be-released analysis by the University of Colorado.

NREL is the nation's primary research and development laboratory for the advancement of clean and renewable energy, and for maximizing energy efficiency.

NREL's full-time workforce has grown from 917 in 2007 to 2,300 today.

"In addition to more than tripling the economic impact to the state in the last three years, NREL has created almost 1,400 new jobs in Colorado and helped people get back to work," says Dwayne Romero, executive director of the Colorado Office of Economic Development. "Colorado's renewable energy industry is one of our key business sectors, and it is well-positioned for future growth because of the continuing success of NREL."

NREL has helped wind and solar energy, biomass and alternative fuels gain traction in the marketplace, helping to vault Colorado into sixth place nationally in the total value of clean energy jobs, according to the analysis. Between 1998 and 2007, clean energy jobs in Colorado grew by 18.2%. As of the end of 2009, Colorado had 17,000 clean energy jobs.

Construction at NREL in fiscal year 2010 totaled $96 million, highlighted by the new 220,000 square-foot research support facility, a building that is a showcase for energy efficiency and renewable energy technologies. Funding from the American Recovery and Reinvestment Act continues to accelerate construction of the NREL’s campus, expanding the laboratory’s capacity for renewable energy and energy-efficiency research, development and deployment, according to the analysis.

As of August 2010, NREL had 329 contracts with Colorado companies totaling $414 million. NREL had cooperative research and development agreements with 23 Colorado companies and technical service agreements with 24 Colorado firms as of summer 2010.

The examination of NREL’s economic impact on Colorado by the Business Research Division of the University of Colorado’s Leeds School of Business used the Insight Colorado Model to quantify the economic and fiscal impacts of NREL. Economic benefits refer to dollars generated and distributed throughout the economy due to the existence of an establishment.

SOURCE: National Renewable Energy Laboratory

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015