New Report: Rolling Back Clean Power Plan Would Derail Opportunity to Create 560,000 New Jobs and $52 Billion in Economic Growth by 2030

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PRESS CONTACTS: Patrick Mitchell, (703) 276-3266, pmitchell@hastingsgroup.com

New Report: Rolling Back Clean Power Plan Would Derail Opportunity to Create 560,000 New Jobs and $52 Billion in Economic Growth by 2030

The analysis also outlines major job and economic impacts for 15 different states. Of those states, the biggest lost opportunities are in Pennsylvania, Virginia, and Ohio.

WASHINGTON (June 21, 2017) – Rolling back the Clean Power Plan would cost the U.S. economy the opportunity to add up to 560,000 jobs and $52 billion in gross domestic product (GDP) by 2030, according to a new analysis from the national, nonpartisan business group Environmental Entrepreneurs (E2). The analysis also shows that incremental energy efficiency savings through the Clean Power Plan could reduce annual average household electricity bills by 7 percent in 2030.

The report – Lost Opportunity: How Rolling Back the Clean Power Plan Harms America’s Economy – is available here.

“Scrapping the Clean Power Plan will hamper job creation and stifle economic growth, plain and simple,” said E2 executive director Bob Keefe. “For someone who calls himself a job creator, President Trump is rolling right over the 3 million workers in the rapidly growing solar, wind and energy efficiency industries. Adding insult to injury, a rollback would take money out of the pockets of families who could save on their electric bills. Going backward on this important program is a huge opportunity lost.”

In March, the Trump administration signed an executive order to begin the lengthy rulemaking process of attempting to roll back the Clean Power Plan, which sets the foundation for states to reduce carbon pollution from existing power plants by expanding the availability of clean, renewable energy and improving energy efficiency. Rolling back the Clean Power Plan, especially following President Trump’s withdrawal from the Paris climate agreement, could prevent America from becoming a global leader in the fast-growing clean energy sector.

The report examines how different scenarios designed to meet the Clean Power Plan’s carbon emission standards would impact the U.S. economy. The scenario creating the most jobs and giving GDP the biggest boost in 2030 is a mass-based compliance approach, coupled with stronger investments in energy efficiency, reaching savings levels of 2 percent in annual electricity sales.

The analysis details the economic impacts of such a scenario for 15 different states. For example, Florida could see 44,800 more jobs and $3.7 billion growth to GDP under this scenario, while states like Georgia (29,000 jobs, $2.8 billion GDP growth) and Ohio (20,600 jobs, $2.1 billion GDP growth) would also experience robust economic growth.

To speak with E2 members and other business leaders in your state, please contact Patrick Mitchell at (703) 276-3266 or pmitchell@hastingsgroup.com.

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Environmental Entrepreneurs (E2) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and manage more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on Twitter at @e2org.

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