REPORT RELEASE: The Economic Benefits of Solar Energy in Arizona
Casa Grande, AZ– On Friday, August 16th, The Western Way released a new economic impact study focusing on the benefits of utility scale solar development in Arizona. The economic impact study was prepared by Rounds Consulting Group and was released at the Pinal Partnership Meeting, where Jim Rounds shared the report findings during a panel discussion.
The report found that in 2023 there were over 360 solar companies, including manufacturers, installation businesses, developers, and other ‘solar related’ companies operating in Arizona which generated the following annual economic impacts in Arizona:
$7.3 billion annual economic output and $2.2 billion in labor income from construction and operational activities
The industry directly supports 8,300 jobs throughout the state, an additional 2,800 supplier related (indirect) jobs, and 11,200 spending induced jobs for a total of 22,300 jobs.
$155.4 Million in state and local tax revenues from the industry’s activity in 2023. This includes personal income, sales, excise, and property taxes, among others. Of that total, local counties received $21.2 million and local municipalities and taxing districts like fire and school districts received $50.7 million.
In addition to the statewide economic impact, the report analyzed the construction and ongoing operations impact of two prospective solar projects in Eloy and Coolidge:
Case Study #1: A $1.1B solar and energy storage (800MW solar + 800MW BESS) project in Eloy, AZ.
Case Study #2: A $400M solar and energy storage (150MW solar + 150MW BESS) project in Coolidge, AZ.
“The commitment of these projects to provide reliable energy, rural workforce development, new technology, and economic security to Pinal County sends a strong message that sets us apart from many unprepared communities around the country.” Said Andy Tobin, former Speaker of the Arizona House and Director of The Western Way’s Arizona Rural Energy Network