The RPS provides economic benefits to New Hampshire, its cities and towns, businesses, and residents. The industries associated with designing, building, installing, operating and servicing renewable energy systems increase direct and indirect economic activity in the state. A study completed in 2015 found that these clean-tech industries had a substantial and growing impact in the state, with 13,000 to 20,000 associated jobs reported, and average salaries 50% higher than the state average.
Over 5,100 new residential and commercial scale solar electric (PV) projects have been developed in New Hampshire since 2008 with help from the Renewable Energy Fund. At the end of 2017, about 70 MW of solar capacity was installed, enough electricity to power 11,080 homes!
There are many benefits to state and local governments. Privately owned solar PV systems generate tax revenues for cities and towns. Some cities and towns are purchasing some or all of their electricity from solar projects. Nineteen schools have installed solar PV, helping to reduce their electric costs.
The State of New Hampshire has installed solar PV at the Division of Motor Vehicles in Concord and at the new Women’s Correctional Facility, also in Concord, both with funding from the Renewable Energy Fund. Public projects such as these save taxpayers money, and keep energy and investment dollars in the state to benefit our own economy.
The RPS not only helps develop new renewable energy systems, but it also helps maintain existing ones such as small-hydroelectric and biomass plants that are already built and providing benefits. Small hydro plants (those that produce less than or equal to 5 MW of electricity) pay state and local property taxes, business taxes, lease payments for state-owned dams, and water-user fees for state and federal impoundments. Biomass electric power plants’ contribution spreads across the state’s economy by creating and supporting jobs, incomes, and taxes.
Biomass energy for thermal heating use has also had a positive impact on New Hampshire’s economy. With the help of grants and rebates from the Renewable Energy Fund, more than 450 residential and commercial biomass heating systems are currently operating in the state, including at least 38 publicly owned properties.
Biomass fuels, such as wood chips and pellets, are produced by and purchased from companies located in New Hampshire and are used for electric generation and thermal purposes, keeping energy dollars in state. A review of 116 commercial biomass heating systems in 2015 estimated that 7.7 million gallons of imported fuel oil were displaced with locally produced biomass fuel through the use of modern wood heating, resulting in savings of $11.8 million. Direct spending on wood pellets and chips in the state in 2015 was $5.8 million.
