Wind power: Here to stay
In these tough economic times, there is an industry which is continuing to invest in American projects, American jobs and develop American infrastructure using local American resources. Wind power is here, and it is here to stay. Here are some facts that demonstrate this.
Wind power is now a mainstream energy source for the country with 42 percent of new electricity generation in 2008 coming from wind, making the most of this clean, renewable energy source. This is an enormous opportunity for the U.S. economy and one that the state of Illinois is taking seriously. The state has committed to a renewable portfolio standard (RPS) which requires that by 2025, 25 percent of the power consumed within the state will come from renewable resources, with three-quarters of that from wind power.
Wind generates more power in the United States of America than in any other country in the world with more than 31,100MW installed across the country – enough to power around 8.5 million households. Illinois ranks in the top 10 states for wind energy generation, with more than 1,100MWs of green power capacity currently installed and is in the top 3 states for current and projected percentage growth.
In 2008, 8400MWs of new wind projects were completed across the country, helping to create 35,000 new American jobs and bringing the total number of American workers in the industry to about 85,000. According to a U.S. International Trade Commission report published in June 2009, the USA-based skilled manufacturing worker earned an average wage up to $20 per hour.
For Illinois, the Center for Renewable Energy at Illinois State University carried out a study in June 2009 to quantify the economic benefits of wind power. It analyzed all of the 17 major projects already installed within the state and found that they had created more than 6,000 full-time equivalent jobs during construction (total payroll more than $300m) and 292 permanent jobs in the rural parts of Illinois where the wind farms are situated. They also generate $11.4m in annual property taxes to the counties and $4.4m in income to local landowners.
Mainstream Renewable Power is committed to bringing these benefits to the local community in Lee, Bureau and Whiteside counties through the development of the Green River wind farm. The proposed project has a capacity of up to 437MW, to be built in two phases using anywhere from 175-290 turbines depending on the specific wind turbine model chosen.
Current property tax legislation means that for the full 437MW wind farm, property taxes of more than $4.5 million per annum will be payable, of which in excess of $2.5 million will go to the Bureau Valley School District. Let us state clearly: We are happy to pay our taxes; we budget for them in the development of our projects, and we have no intention whatsoever of appealing such a tax bill.
In addition, a significant sum will be paid annually to all participating landowners in the project. While we will not divulge the exact amount here out of respect for landowners’ confidentiality, the total runs into the millions of dollars of additional revenues flowing into the local economy.
The Green River wind farm will be an investment of around $1 billion in total to build. To realize a market rate return on investment, we expect the wind farm to remain operational for a minimum of 35 years, the expected useful life of wind farm technology. The technology is being designed by major multinational companies such as GE, Siemens and Mitsubishi. These companies are investing billions of dollars in wind power and have the experience of building technology that lasts.
The facts indicate that American wind power is not going away any time soon. We hope that residents, landowners and citizens around the Green River wind farm will join us as we develop a project that brings lasting benefits to the local community, to Illinois and to the
United States.
Mainstream Renewable Power would like to thank the Bureau Valley School Board for its endorsement of the Green River wind farm by unanimously passing a resolution to support the project. The resolution symbolizes their support for the wind power industry and is a vote of confidence in Mainstream Renewable Power as a developer to deliver the project. The School Board will be hosting a forum at 7 p.m. Thursday at Bureau Valley High School in Manlius, to share more information with all citizens of the community about their endorsement.
Matt Boss, project manager, Green River wind farm, U.S. Mainstream Renewable Power Inc.
Chicago
