Our New Energy Economy (NEE) has been built through partnerships with businesses who share our vision for clean energy, innovation, and energy efficiency. Our NEE partners have committed more than $23 million in support of local educational programs, over 900 new jobs, and over $200 million in investments to fuel our local economy.
Collectively, once our partners reach all of their commitments, the annual economic impact of our NEE is projected to be over $1.4 billion. As we move forward, CPS Energy remains dedicated to fostering job growth, economic development, and educational opportunities with a long-term goal of establishing San Antonio as a hub for clean energy and innovation.
- More than 900 new jobs have been committed to San Antonio by our NEE partners. These jobs will have an estimated annual payroll of more than $49 million by 2019.
- These innovative partnerships have already created more than 600 jobs and $1 billion in annual economic impact for San Antonio when multiplier effects are taken into account.
- Our partners have already invested over $219 million in construction activity in the San Antonio economy. The New Energy Economy is expected to have an economic impact of more than $1.4 billion by 2019.
- More than $23 million for local education programs has been committed by NEE partners, with a primary focus on science, technology and engineering programs. So far, over $6 million has been contributed.
Through NEE partnerships, we are leveraging low-carbon and renewable energy resources to stimulate economic and educational development within our community.
- A commitment to making cleaner, renewable energy 20 percent of our generation resources by 2020.
- A commitment to rebalancing our portfolio toward natural gas & renewables and to making 65 percent of our generation low or no carbon resources; and
- A commitment to an emission reduction strategy that will reduce power plant emissions by tens of thousands of tons per year—the equivalent of removing 670,000 vehicles off of the road by 2020.