POST Online Media Lite Edition



 

$13 billion in benefits for San Joaquin Valley, Ca. thanks to climate policies

Staff Writer |
The first comprehensive, academic study of climate policies effects in the San Joaquin Valley, Ca. has found a total economic benefit of $13.4 billion.

Article continues below






The study, The Economic Impacts of California's Major Climate Programs on the San Joaquin Valley, addresses compliance and investment costs as well as the benefits across the region, and finds a net boost to the Valley's economy from the state's major climate programs, including the creation of tens of thousands of jobs.

The Valley is especially vulnerable to air quality problems that climate policies tend to alleviate. But it also faces more socioeconomic challenges than other parts of the state and is less equipped to take chances with its economy.

"This report shows that even in one of the poorest and most disadvantaged regions of the state and nation, California's existing climate policies can provide net economic benefits," said Ethan Elkind, who coordinated the report for the Center for Law, Energy and the Environment (CLEE) at the UC Berkeley School of Law.

Researchers looked at three key California climate and clean energy policies:

- cap-and-trade, which established a market designed to reduce carbon emissions from major polluters

- the Renewables Portfolio Standard (RPS), which calls for California to get 33 percent of its energy from renewable sources by 2020, growing to 50 percent by 2030

- energy efficiency programs run by investor-owned utilities and overseen by the Public Utilities Commission.

After accounting for compliance and other costs, the UC researchers estimate the cap-and-trade program had a direct economic benefit of $119 million to the San Joaquin Valley, and boosted the economy by $200 million when you include indirect and induced economic benefits.

If you include spending that has been allocated but not yet disbursed, those numbers rise to $1 billion in direct economic benefits and $1.5 billion when including indirect economic benefits.

Proceeds from carbon auctions disbursed in the region so far have largely gone towards initial work on the state's high-speed rail project, affordable housing, irrigation modernization and electric vehicle incentives.

The study found that industries benefiting from the investment of cap-and-trade revenue, such as construction, generate more economic activity in the region than those industries bearing the costs of cap-and-trade compliance.

Researchers calculated a potential negative impact on 400 jobs due to compliance, but found that on a net basis, more than 700 jobs were created directly, and more than 1,600 supporting service and industry jobs were created indirectly, from 2013 through 2015. In the same period, state and local tax revenues received a $4.7 million boost.

A lot of attention is paid to the state's carbon cap-and-trade program, but in terms of the San Joaquin Valley's economy, the state's Renewables Portfolio Standard (RPS) has had a bigger impact so far.

Construction on renewable energy projects has resulted in $11.6 billion in total economic activity in the Valley.

The San Joaquin Valley is home to 24 percent of the state's solar generation and 54 percent of the state's wind generation, providing significant employment opportunities in the region.

"Building and operating renewable energy facilities means jobs," said Betony San Joaquin Valley, the report's lead author and the associate chair of UC Berkeley's Donald Vial Center on Employment in the Green Economy.

From 2002 to 2015, renewable programs created about 31,000 direct jobs in the San Joaquin Valley – for people building and operating renewable energy facilities, for example – and created another 57,000 indirect and induced jobs for suppliers, supporting businesses and the like, for a total of 88,000 jobs.

"Most of these direct jobs are the well-paid, local, career-track jobs the Valley really needs," concluded San Joaquin Valley.

The report found energy efficiency programs overseen by the California Public Utilities Commission (CPUC) are cost-efficient vehicles for families, businesses and institutions to save energy and money year after year.

By cutting demand, efficiency efforts also reduce the need for costly new power-generating infrastructure.

Energy efficiency programs in the San Joaquin Valley are the most cost-effective in the state, according to the report authors' analysis of data reported by the CPUC.

The report's researchers found these programs in the Valley have provided net economic benefits of $248 million since 2010.


What to read next

Delivery Hero jumps on debut in boost for tech IPOs
Blackstone raises $5 billion for its 2nd fund
Gazprom to invest $11.67 billion in 2016

U.S.: Pacific storm will bring strong winds, heavy rain, and mountain snow

 
A strong storm that originated over the Pacific has tracked through the Great Basin and is currently transitioning across the Rockies to redevelop across the central High Plains later today into early Saturday morning.
 
 

Latest

U.S. drillers add oil and gas rigs to 586
Cold-Link Logistics will create 123 new jobs in Robeson County, North Carolina
ArcelorMittal plans Alabama mill to produce electrical steel, will create 1,300+ jobs
Manhattan Tunnel Project estimated to create 15,800 new jobs

NEWS

EPPO probes steel import tax fraud with searches in UK and Germany

Police investigate extensive data breach on Valio’s network
U.S.: Prolonged heavy rain and snowfall
Croatia: Investigation launched against 2 individuals and 1 company suspected of subsidy fraud
Latvia-Sweden subsea cable damaged in Baltic Sea
Storm brings rain and snow to southwest U.S.; snow on higher elevations
 

BUSINESS

U.S. oil rig count rises to 479

New York AG warns businesses against price gouging of eggs and poultry amid bird flu outbreak
Firms admit laundering Russian wood into EU
U.S. oil and gas rig count falls to 576
Kansas Governor announces $25M for Stafford County Transload Facility Project
Ukraine planning to resume port concessions in 2025
 

Trending Now

EU to support Envision AESC France's production of batteries for electric vehicles

Denmark supports hydrogen pipeline to Germany with $1.1bn of subsidies

EU invests over €1.2 billion in cross-border infrastructure

Maersk and Hapag-Lloyd launch Gemini Cooperation


POLITICS

South Africa raises national minimum wage to $1.55 per hour

Moldova announces tender for constructing wind, solar parks worth 200 mln euros
Denmark supports hydrogen pipeline to Germany with $1.1bn of subsidies
EU invests over €1.2 billion in cross-border infrastructure
More nuclear power plants will be approved across England and Wales
Colorado and United Kingdom sign agreement to foster trade and investment
 

Today We Recommend

Moldova announces tender for constructing wind, solar parks worth 200 mln euros


Highlights 

Cold-Link Logistics will create 123 new jobs in Robeson County, North Carolina

ArcelorMittal plans Alabama mill to produce electrical steel, will create 1,300+ jobs

Manhattan Tunnel Project estimated to create 15,800 new jobs


COMPANIES

Egypt unveils new Suez Canal navigation charts for expanded route

Maersk and Hapag-Lloyd launch Gemini Cooperation
EU to support Envision AESC France's production of batteries for electric vehicles
Ooredoo and ASN to build subsea cable for GCC countries and Iraq
Pratt & Whitney to expand manufacturing operations in North Carolina, create 325 jobs
GE Vernova to create 75 new jobs in Schenectady County, New York
 

CAREERS

Inizio appoints Colin Stanley as chief commercial officer

Bridgewest Group names operating partner and general manager, Europe
Keith Hale named group CEO to Unite Titian Software & Labguru (BioData)
Solithor appoints new CEO
McWin appoints Guillaume Charlin as managing partner
PrecisionLife: Bill Keating new chief commercial officer, diagnostics and healthcare
 

ECONOMY

U.S. becomes New Zealand's second largest export destination

Indonesia goes from $0.6 billion deficit to $5.9 billion surplus
Greece to repay $5.3 billion bailout debt early
Fraser Institute: Canada’s debt ranking falls from best in G7 to 7th worst
Kuwait reports $5.2 bln budget deficit in FY 2023-24
Eurozone reports modest Q1 GDP growth, stable annual inflation
 

EARNINGS

Ericsson Q2 sales down but North America up

Lockton revenue $3.55 billion
Motorcar Parts of America Q4 sales $189.5 million
Limoneira Q2 revenue $44.6 million
Lululemon athletica Q1 revenue increased 10% to $2.2 billion
PVH Q1 GAAP EBIT $205 million
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

U.S. resumes cattle and bison imports from Mexico under new protocol

Canada considers lowering tebuconazole residue limit on grapes, impacting U.S. imports
How expensive was agricultural land in Europe in 2023
Iran to import 50,000 tons of potatoes to stabilize prices amid rising food costs
JBS and partners donate 3 million tags to improve livestock traceability in Pará, Brazil
Hong Kong suspends of poultry meat and products from areas in U.S.
 

LEADERSHIP

Study: Missing a deadline has a bigger impact than you might think

Employers prefer younger job candidates for AI roles although experienced workers perform same or better
Study finds workers misjudge wage markets
Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
 

CRIME

Commission fines Pierre Cardin and its licensee Ahlers €5.7 million for restricting cross-border sales of clothing

BHP, Vale agree to pay $30B damages for Brazil dam disaster
Commission fines České dráhy and Österreichische Bundesbahnen €48.7 million over collusion to exclude common compe
SEC charges Keurig with making inaccurate statements regarding recyclability of K-Cup beverage pod
SEC charges John Deere with FCPA violations for subsidiary’s role in Thai bribery scheme
AG Bonta secures $3.9 million settlement with cryptocurrency company Robinhood
 

Magazine

TRAVEL

Radisson Hotel Group debuts in the heart of Tunisia’s capital city, Tunis

Morocco’s first Radisson branded hotel opens in Casablanca
Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
 

SEA, LAND, AIR

Citroën C3 Aircross, the most affordable compact SUV with 7 seats

2025 Chevrolet Equinox stands apart with fresh looks and capability
Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

MESA/Boogie Celebrates 40-year partnership with John Petrucci

reMarkable 2, monochrome tablet for your thoughts and your eyes
OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
 

HEALTH

Human cases of anthrax reported in western Mongolia

One more barrier to developing vaccine for HIV removed
Rwanda begins world's first clinical trial for treatment of Marburg virus disease
Rwanda restricts gatherings amid Marburg virus outbreak, to begin trials of vaccine
Teksas Attorney General reaches settlement in first-of-its-kind healthcare generative AI investigation
Potentially deadly fungal disease spreading in California
 

MEANTIME

India launches space docking experiment mission

World-first carbon-14 diamond battery made
Einstein Telescope step closer
Exoplanet-hunting telescope to begin search for another Earth in 2026
India to build first phase of its own space station by 2028
Roscosmos chief approves schedule of creating Russian orbital station through 2033