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At least 19 records

Economic impact of stimulated technological activity. Part 1: Overall economic impact of technological progress: Its measurement

Investigations were performed at the national economic level to explore the aggregate effects of technological progress on economic growth. Inadequacies in existing marco-economic yardsticks forced the study to focus on the cost savings effects achieved through technological progress. The central questions discussed in this report cover: (1) role of technological progress in economic growth, (2) factors determining the rate of economic growth due to technological progress; (3) quantitative measurements of relationships between technological progress, its determinants, and subsequent economic growth; and (4) effects of research and development activities of the space program. For Part 2, see N72-32174.

Source record↗

County Economic Impact Index: Measuring the ongoing economic effects of COVID-19

The County Economic Impact Index (CEII) estimates the change in overall county-level economic activity during the COVID-19 pandemic relative to January 2020. It shows which counties may be more susceptible to large reductions in economic activity compared to normal conditions by looking at which industries make up each county’s economy and then tracking monthly changes in industry employment at the national level. Economic activity in the CEII is measured by the total value added of all industries within the county. Counties with economic activities dominated by industries experiencing rising unemployment can expect larger direct impacts to their local economies, particularly if the industries account for a large portion of the economic output of that county. Results are available for all U.S. counties, as well as the District of Columbia, Puerto Rico municipios, and the U.S. Virgin Islands.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

The economic impact of NASA R and D spending

The economic impact of R and D spending, particularly NASA R and D spending, on the U. S. economy was evaluated. The crux of the methodology and hence the results revolve around the fact that it was necessary to consider both the demand effects of increased spending and the supply effects of a higher rate of technological growth and a larger total productive capacity. The demand effects are primarily short-run in nature, while the supply effects do not begin to have a significant effect on aggregate economic activity until the fifth year after increased expenditures have taken place. The short-term economic impact of alternative levels of NASA expenditures for 1975 was first examined. The long-term economic impact of increased levels of NASA R and D spending over a sustained period was then evaluated.

Evans, M. K.↗

Economic Impact of Pacific Northwest National Laboratory (PNNL) on the State of Washington in Fiscal Year 2020

The FY 2020 Economic Impact Report details several of PNNL’s economic indicators, including PNNL’s total economic output, annual spending, jobs, number of employees, purchased goods and services, companies with roots in PNNL, STEM support and corporate charitable contributions. It also explains the economic impact of PNNL operations on the state of Washington—all within the context of PNNL’s response to the COVID pandemic and the effect of COVID-19 on PNNL’s economic impact within the state and local community during FY 2020. The results are impressive. Our response to COVID allowed for the majority of our staff to transition to telework, stay productive, avoid furloughs, and even hire new staff. COVID had minimal impact on our ability to positively effect economic impact in the state and community. Additionally, we directly and indirectly supported more than $1.59B through PNNL payroll and domestic purchased goods and services, and we generated 7,580 jobs in Washington State. PNNL’s annual spending was more than $1.1B. Battelle and PNNL contributions to philanthropic and civic organizations totaled $1.08M, many of which are outlined within the report. This information is intended to answer questions we often get from stakeholders who believe in the power of science and technology institutions to help sustain vibrant, educated communities in our state.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

The NASA Lewis Research Center's Expendable Launch Vehicle Program: An Economic Impact Study

This study investigates the economic impact of the Lewis Research Center's (LeRC) Expendable Launch Vehicle Program (ELVP) on Northeast Ohio's economy. It was conducted by The Urban Center's Economic Development Program in Cleveland State University's Levin College of Urban Affairs. The study measures ELVP's direct impact on the local economy in terms of jobs, output, payroll, and taxes, as well as the indirect impact of these economic activities when they 'ripple' throughout the economy. The study uses regional economic multipliers based on input-output models to estimate the effect of ELVP spending on the Northeast Ohio economy.

Austrian, Ziona↗

The NASA Lewis Research Center's Expendable Launch Vehicle Program: An Economic Impact Study

This study investigates the economic impact of the Lewis Research Center's (LeRC) Expendable Launch Vehicle Program (ELVP) on Northeast Ohio's economy. It was conducted by The Urban Center's Economic Development Program in Cleveland State University's Levin College of Urban Affairs. The study measures ELVP's direct impact on the local economy in terms of jobs, output, payroll, and taxes, as well as the indirect impact of these economic activities when they "ripple" throughout the economy. The study uses regional economic multipliers based on input-output models to estimate the effect of ELVP spending on the Northeast Ohio economy.

Austrian, Ziona↗

The economic impact of NASA R and D spending: Executive summary

An evaluation of the economic impact of NASA research and development programs is made. The methodology and the results revolve around the interrelationships existing between the demand and supply effects of increased research and development spending, in particular, NASA research and development spending. The INFORUM Inter-Industry Forecasing Model is used to measure the short-run economic impact of alternative levels of NASA expenditures for 1975. An aggregate production function approach is used to develop the data series necessary to measure the impact of NASA research and development spending, and other determinants of technological progress, on the rate of growth in productivity of the U. S. economy. The measured relationship between NASA research and development spending and technological progress is simulated in the Chase Macroeconometric Model to measure the immediate, intermediate, and long-run economic impact of increased NASA research and development spending over a sustained period.

Evans, M. K.↗

Regional Economic Impacts of the Los Angeles 100% Renewable Energy Transition

To help mitigate greenhouse gas (GHGs) generation from burning fossil fuels, many state and local governments are requiring utilities to dramatically increase the share of electricity generated from renewable sources. The City of Los Angeles has set a target of 100% renewable energy by 2045 and has formulated a plan that considers nine potential alternative scenarios that differ by technology, location, and timing. Each scenario has a unique set of local investments, operating and maintenance (O&M) costs, and concomitant rate structures. In this study we develop and apply a computable general equilibrium (CGE) model built specifically for LA to estimate and compare the economic impacts for each of the scenarios over time relative to a reference case. We find differences in economic impacts across scenarios, depending on the level and timing of investment and O&M expenditures, as well as differences in the relative rate changes across scenarios. Results show that employment and economic output are positively correlated with greater capital and O&M spending, while higher electricity rates can dampen economic activity. Several scenarios generate positive economic impacts relative to the reference case, showing that the transition need not have harmful economic impacts, and all scenarios generate a number of other positive co-benefits, such as reduced damage to health from the reduction of ordinary air pollutants. The net employment impacts from 2026 to 2045 across the scenarios range from a low of 3,600 job-year losses annually to 4,700 job-year gains, both around only 0.1% of the baseline average annual employment in the city over that period. The analysis also indicates that lower-income households are relatively more affected than others by the scenarios. Overall, even in the most negatively impactful case, the economic output and employment effects are quite small when taken in the context of the overall size of the regional economy and the large reduction in GHGs.

economic impact modeling↗

The economic impacts of carbon emission trading scheme on building retrofits: A case study with U.S. medium office buildings

As a popular emission reduction tool, the carbon emission trading scheme (ETS) can potentially add an economic incentive for building owners to retrofit buildings in addition to the cost savings in energy. However, the additional economic benefits of building retrofits brought by ETS has not been quantitively investigated yet. Here, in order to fill this gap, this study proposed a systematic economic evaluation method to investigate the economic impacts of ETS on building retrofits. The reduction of the payback period and the increase of the return on investment are adopted as evaluation metrics. Using medium office buildings as an example, this study predicted the economic impacts of ETS on building retrofits at four locations in the U.S., and three different carbon prices were investigated. The results show that carbon prices have significant economic impacts on building retrofits. With the relatively low forecasted time-variant carbon prices (around 10 USD per ton), the economic impacts of ETS on building retrofits are small. When carbon prices increase, the impacts of ETS would be up to 25% for 50 USD per ton (current prices in European Union) and 51% for 100 USD per ton. Furthermore, locations with more fossil energy have higher relative changes in the payback period and ROI but are more sensitive to carbon prices.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Distributed Photovoltaic Economic Impact Analysis in Indonesia

Like other countries in the region, the Government of Indonesia aims to increase its use renewable energy in the near term from various technologies, including grid-connected distributed photovoltaics (DPV). While little DPV has been installed to date, the policy landscape has been shifting over the past few years with recent pronouncements from the state-run utility Perusahaan Listrik Negara (PLN) and the Ministry of Energy and Mines (MEMR) that have begun to provide a more supportive policy framework for the deployment of DPV. Nonetheless, many questions remain as to how DPV impacts customers, the utility, and the economy as a whole. This report presents a holistic view of DPV economic impacts in the Java-Bali region of Indonesia by assessing customer economic impacts, utility revenue impacts, and jobs and economic development impacts.

14 SOLAR ENERGY↗

Economic Impact of Closing the Nuclear Fuel Cycle

This report estimates the economic impact of closing the United States nuclear fuel cycle. Several different fuel cycle scenarios are analyzed. These scenarios include a baseline analysis of the existing fuel cycle conditions, a hypothetical scenario where all fuel cycle operations are preformed domestically, a scenario where all reactors are replaced with sodium fast reactors, and finally a scenario that uses a mix of fast reactors and light water reactors operating on mixed oxide fuel. Each scenario modeled is assumed to be operating at equilibrium and producing electricity at a 100 GWe-yr capacity. Impacts are calculated for normal operations and do not include construction or infrastructure expansion impacts.

11 NUCLEAR FUEL CYCLE AND FUEL MATERIALS↗

Severe Space Weather Events--Understanding Societal and Economic Impacts: A Workshop Report - Extended Summary

The effects of space weather on modern technological systems are well documented in both the technical literature and popular accounts. Most often cited perhaps is the collapse within 90 seconds of northeastern Canada's Hydro-Quebec power grid during the great geomagnetic storm of March 1989, which left millions of people without electricity for up to 9 hours. This event exemplifies the dramatic impact that severe space weather can have on a technology upon which modern society critically depends. Nearly two decades have passed since the March 1989 event. During that time, awareness of the risks of severe space weather has increased among the affected industries, mitigation strategies have been developed, new sources of data have become available, new models of the space environment have been created, and a national space weather infrastructure has evolved to provide data, alerts, and forecasts to an increasing number of users. Now, 20 years later and approaching a new interval of increased solar activity, how well equipped are we to manage the effects of space weather? Have recent technological developments made our critical technologies more or less vulnerable? How well do we understand the broader societal and economic impacts of severe space weather events? Are our institutions prepared to cope with the effects of a 'space weather Katrina,' a rare, but according to the historical record, not inconceivable eventuality? On May 22 and 23, 2008, a one-and-a-half-day workshop held in Washington, D.C., under the auspices of the National Research Council's (NRC's) Space Studies Board brought together representatives of industry, the federal government, and the social science community to explore these and related questions. The key themes, ideas, and insights that emerged during the presentations and discussions are summarized in 'Severe Space Weather Events--Understanding Societal and Economic Impacts: A Workshop Report' (The National Academies Press, Washington, D.C., 2008), which was prepared by the Committee on the Societal and Economic Impacts of Severe Space Weather Events: A Workshop. The present document is an expanded summary of that report.

Source record↗

The Los Angeles 100% Renewable Energy Study (LA100): Chapter 11. Economic Impacts and Jobs

The City of Los Angeles has set ambitious goals to transform its electricity supply, aiming to achieve a 100% renewable energy power system by 2045, along with aggressive electrification targets for buildings and vehicles. To reach these goals, and assess the implications for jobs, electricity rates, the environment, and environmental justice, the Los Angeles City Council passed a series of motions directing the Los Angeles Department of Water and Power (LADWP) to determine the technical feasibility and investment pathways of a 100% renewable energy portfolio standard. The Los Angeles 100% Renewable Energy Study (LA100) is a first-of-its-kind objective, rigorous, and science-based power systems analysis to determine what investments could be made to achieve these goals. The LA100 final report is presented as a collection of 12 chapters and an executive summary, each of which is available as an individual download. This chapter reviews economic impacts, including local net economic impacts and gross workforce impacts.

100% Renewable↗