Annual investment in new electric transmission facilities could reach $12 to $16 billion in the U.S., which could result in $30 to $40 billion in annual economic activity and create 150,000 to 200,000 new full-time jobs in the U.S. in each of the next 20 years, according to a new study released by WIRES (Working Group for Investment in Reliable and Economic Electric Systems).
In light of the new study, National Electrical Manufacturers Association (NEMA) reiterated its calls for action from policymakers in support of Smart Grid development.
NEMA said the study backs up its view that regulatory challenges and other barriers are slowing Smart Grid investment and preventing new jobs from being realized.
NEMA said getting new power transmission facilities approved and beginning construction is a long, arduous process. It described this process sin a brochure, "Siting Transmission Corridors—A Real Life Game of Chutes and Ladders."
“The WIRES study couldn’t be more timely, as job creation is at the forefront of Americans’ minds,” said NEMA Director of Government Relations Jim Creevy. “The challenge is getting our elected officials to recognize the importance of investments in electrical transmission to both our country’s global competitiveness and job creation.”
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