Report Says Recovery Act Smart Grid Funding has Significant Impact on U.S. Economy

An analytical report released last month by the U.S. Department of Energy found that as of March 2012 the total invested value of the $2.96 billion to support smart grid projects generated at least $6.8 billion in total economic output. In addition, the results indicate that the high tech, industrial and service sectors called upon in typical smart grid projects generate higher than average labor income, and generate jobs across the economy through indirect and induced mechanisms.  In terms of value added per dollar invested, U.S. Gross Domestic Product is increased at a higher ratio than many other public investment alternatives.
 
The report, Economic Impact of Recovery Act Investments in the Smart Grid, reviews investments made through March 2012 under the Smart Grid Investment Grant and the Smart Grid Demonstration Programs funded by the American Recovery and Reinvestment Act of 2009. The report evaluates the economic effects of immediate spending, not long term impacts, and includes employment, total labor income, GDP and economic output.