Not only does growing wind power provide clean, affordable electricity, it also injects massive amounts of capital into our economy. Recently released data quantify just how much: $128 billion over the last decade. Over the last five years, the average has totaled $13 billion annually.
Let’s put these numbers into context: $13 billion each year is more than Major League Baseball’s average annual revenue. It’s also about the same as the National Football League’s earnings.
In 2015 alone, investment totaled $14.7 billion, close to Iceland’s gross domestic product for the year.
There’s good news at the state-level as well. Texas led all states in wind energy investment, topping $32 billion. California and Iowa are nearing $12 billion, while Oklahoma has seen $9.6 billion of investment and Illinois $7.7 billion. These investments help keep state economies growing robustly.
This is further proof wind power is becoming a key component of America’s economy. Not only does it support 73,000 well-paying jobs and 500 factories in 43 states, it also drives more investment that America’s national pastime. It’s on the same scope as the NFL, the behemoth of U.S. sports, or a small wealthy nation.
As the largest source of new electricity generation in 2015, and with enough wind energy currently under construction to power over 2.5 million American homes, wind is likely to continue pumping this level of investment into the U.S. economy. Along with long-term policy certainty created by the five-year extension of the Production Tax Credit, investment may actually increase over the next several years. That’s good news for our economy and our future energy landscape.