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Innovation & Job News

GPIC report: Energy efficiency work could mean $618M in local spending, 23,500 jobs

Energy efficiency retrofits at nearly half of our region's commercial buildings could mean $618 million in local spending and support 23,500 jobs, according to a report issued on Monday by the Greater Philadelphia Innovation Cluster.

The Philadelphia Navy Yard-based GPIC, a 24-institution, $129 million consortium funded by the U.S. Department of Energy and other federal agencies, also issued a report detailing programs and policies already encouraging retrofits and further steps the region can take. Both reports can be found here.

The University of Pennsylvania's Dr. Mark Alan Hughes, the leader of the Policy, Markets and Behavior task team at GPIC, says in a news release that the reports "provide ample evidence that the Philadelphia region is well-situated to take advantage of the economic opportunities inherent in energy efficiency retrofits."

According to the main report, conducted by Econsult Corporation, 47 percent (or 4,201 buildings) of the region's commercial and flex-industrial space between 20,000-100,000 square feet are potential retrofit candidates.

Cozen O'Connor staff compiled the secondary report, which examines laws, regulations, financial incentives, contracts and public bidding requirements to encourage energy efficiency retrofits.

"Removing barriers and employing new policy tools to spur retrofits will not only save energy, but also grow jobs and stimulate the regional economy," says Hughes.

Source: Christine Knapp, GPIC
Writer: Joe Petrucci
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