Wisconsin’s Focus on Energy program investments in 2015 and 2016 generated $208 million in economic benefits and annually supported more than 1,200 jobs during that two-year period.
Focus on Energy works with eligible Wisconsin residents and businesses to install cost effective energy efficiency and renewable energy projects on behalf of 108 electric and natural gas utilities.
Energy savings from completed projects coupled with positive impacts across the state’s economy produced a $4.77 return for every dollar invested over the two-year study period.
The Cadmus Group, an independent third party evaluator, released these findings in a report to the Public Service Commission of Wisconsin in January.
Other findings in the report include:
- Focus on Energy investments in 2015 and 2016 will create economic benefits totaling $762 million for Wisconsin ratepayers by 2040.
- Focus on Energy invested more than $170 million in incentives and technical assistance for Wisconsin businesses and residents in 2015 and 2016.
- The largest share of jobs supported by the program are in manufacturing.
Focus on Energy information, resources and financial incentives help to implement projects that otherwise would not get completed, or years before otherwise planned.
“A $4.77 return on investment shows Focus on Energy is one way Wisconsin encourages economic development and grows its favorable business climate,” said Public Service Commissioner Lon Roberts.
“When a business saves money by saving energy, it also becomes more globally competitive,” Commissioner Roberts added.
Looking forward, the study estimated that investments made in 2015 and 2016 will have an impact of another $23 million per year ($554 million) from 2017 to 2040.