Transcript:
Across the vast state of Texas, solar and wind farms are making a lot of clean energy – and billions of dollars for communities and landowners.
In a recent study, Joshua Rhodes of the University of Texas analyzed the amount of local tax revenue generated by existing solar, wind, and battery storage projects in the state.
He found that over the lifetime of those projects, they will pay more than $12 billion in taxes to the communities where they’re located – some of which do not get much revenue from other industries, like oil and gas or manufacturing.
Rhodes: “And that money then stays in the local area and funds things like roads and schools and hospital districts and other types of local services that the residents need.”
On top of that, landowners who lease property for those clean energy projects are expected to earn about $15 billion in payments over the years.
Rhodes: “And that can make a big difference for a rancher or a landholder to have that revenue. … A lot of landowners talked about wind and solar being like a drought-proof crop. It doesn’t have to rain to still get paid.”
And there’s more money in the pipeline. The study finds that new projects slated to come online in the next couple years could generate tens of billions more for Texas communities and landowners.
Reporting credit: Sarah Kennedy / ChavoBart Digital Media
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