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Renewables: Good for Planet, Pocket
May 15, 2023
A report released by the Advanced Power Alliance, Conservative Texans for Energy Innovation, and the Texas Association of Business, showcases how tax revenue and landowner payments impact Texas communities. The “Economic Impact of Renewable Energy in Rural Texas” report found:
Over their lifetime, the current fleet of utility-scale wind and solar projects in Texas will generate between $4.7 billion and $5.7 billion in new tax revenue to local communities.
If all projects with interconnection agreements are built, existing and planned utility-scale wind and solar projects will pay between $8.1 billion and $10 billion in total tax revenue over their lifetimes.
A county in Texas could expect to receive between $9.4 million and $13.1 million in lifetime taxes (including school taxes) for a 100 megawatt (MW) solar project located in its boundaries and between $16.8 million and $20.3 million for a 100 MW wind project.
A Texas landowner could expect to collect between $16.2 million and $33 million in payments over the lifetime of a 100 MW wind farm, depending on the length of contract and location in the state.
A Texas landowner could expect to collect between $5.2 and $27.7 million in payments over the lifetime of a 100 MW solar farm, depending on the length of the contract and location in the state.