Locally owned renewable energy can bring big economic benefits to local communities. Half of Germany's, 43,000 megawatts (MW) of renewable energy are owned by regular farmers or citizens. John Farrell, Senior Policy Analyst at the Institute for Local Self Reliance, reports that community ownership payments contribute 150 to 340 percent to local revenue in comparison to land lease payments by absentee corporate turbine owners. The additional funds spread to the entire community rather than just the turbine hosts.
Local Ownership Boosts Economic Impact of Renewables
Locally Owned (Low) 1.5x
LoLocally Owned (High) 3.4x
Total Economic Impact
John Farrell points out that it is important to get local communities involved in both the planning and the ownership of renewable energy projects. See Ownership (and Money) a Cure for "Not In My Back Yard:"