ECONOMIC IMPACT IN OKLAHOMA
An investment in wind power and solar energy is an investment in jobs – from operations and maintenance, to construction, manufacturing and numerous support sectors. But the renewable power industry does so much more than that.
Every year the wind and solar industry infuses capital into Oklahoma by investing more than $51 million in land lease payments. Land lease payments allow farmers and ranchers to reinvest in their land and increase Oklahoma’s output in agriculture. Landowner payments are equivalent to paying 194 employees at the county average wage – making landowner payments essentially one of the top-10 companies in the area.
Thanks to the wind and solar industry, Oklahoma farmers and ranchers are not only getting payments now – they’re able save their land for generations to come.
Report: Wind Energy Industry Impacts in Oklahoma – 2015
Wind power will save Oklahomans $1.2 billion
The U.S. Department of Energy released a report in 2018 that shows the cost of developing new wind projects is dropping, even as new turbine designs are increasing the amount of power generated by each turbine.
The positive economic impact of Oklahoma’s wind and solar energy industry is being realized in Tulsa and across Northeast Oklahoma through the successful attraction of mega-employers seeking access to abundant renewable power sources.
Investing in Oklahoma’s Greatest Resource – Our Students.
In 2019, the Oklahoma wind industry paid more than $80 million in ad valorem taxes across 26 counties. In fact, in 19 counties the wind industry is among the top three tax payer.
Oklahoma’s wind incentives have brought billions in private investment to rural areas, lowering electricity prices, creating new jobs and providing property tax revenue for rural school districts.