MI renewable energy a $5B industry
Michigan companies in the advanced and renewable energy sector have created a new trade group focused on growing Michigan's advanced energy industry. The new trade group, the Energy Innovation Business Council (EIBC) has also commissioned a study on the impact of advanced energy manufacturing on Michigan's economy.
The "Economic Impact of New Energy Manufacturing in Michigan" report, conducted by The Hill Group, looked at real-world data on Michigan's wind, solar, biomass and advanced energy storage, including the electric vehicle, sectors.
The potential economic effects of the findings are exciting to the EIBC. Among the findings: Michigan's energy manufacturing industry has an economic impact of nearly $5 billion a year and could support nearly 21,000 jobs a year.
Though the study's results are positive, partnerships among investors, technologists, government and innovators are still necessary to forge the transition to an advanced energy industry forward.
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