The Vermont Senate recently voted to pass legislation that will dramatically expand clean renewable energy deployment across the state and will put Vermont on track to become the second state in the US to achieve 100% renewable electricity by 2035. The plan is a result of a years-long collaboration between developers and utilities.

Brattle performed a macroeconomics analysis for the 2023 Legislative Working Group on Renewable Energy Standard Reform that was cited in the bill. The analysis focused on the indirect fiscal impacts that would arise from increased resource investment in Vermont. The bill noted that The Brattle Group’s modeling “showed slightly higher State revenues but slightly lower GDP growth, particularly after 2030, than in the absence of H.289.” The Brattle analysis found that “the slightly slower growth rate of Vermont’s GDP is based on two effects: economic activity would increase a bit faster due to renewable energy investments, but growth in consumption by Vermonters would slow slightly as electricity rates rise and their spending power declines.”

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