20-year economic benefits to the Goleta Load Pocket from solar and energy storage

Goleta Load Pocket Community Microgrid (GLPCM) Economic benefits of clean local energy

The Goleta Load Pocket (GLP) is  a disaster-prone, transmission-vulnerable 70-mile stretch of Southern California coastline. An economic analysis conducted by the Clean Coalition shows significant benefits to the GLP over 20 years from adding scalable blocks of 10 megawatts (MW) of solar, 20 megawatt-hours (MWh) of energy storage, or — the most cost-effective and resilient solution — a combination of solar+storage.

Two people analyzing financial charts and graphs on a table with a laptop, documents, and a clipboard.

Analysis methodology

Scenarios considered:

  • 10 MW of solar added
  • 20 MWh of energy storage added
  • 10 MW solar + 20 MWh energy storage added

Tools and sources used:

  • Jobs and Economic Development Impact (JEDI) calculator (model version PV 12.23.16) created by the National Renewable Energy Laboratory (NREL)
  • Solar PV installed cost of $2/W(DC) and energy storage cost of $700/kWh, before taxes and incentives
  • Site lease income value based on previous Clean Coalition analysis
Solar panels installed over a parking lot with a shipping container and electrical equipment nearby under a cloudy sky.

Economic ripple effect of solar+storage projects

  • Construction phase = 1-2 years
  • Operations & maintenance phase = 20+ years

  • Direct effects: Project development and onsite labor impacts
  • Indirect effects: Local revenue and supply chain impacts
  • Induced effects: Spending by those directly and indirectly employed on the project

20-year economic benefits to GLP, the larger region, and the state

Solar+storage projects provide many local benefits, including economic stimulation. They also provide benefits to the larger region and the state, as shown below.

A few key factors to note about this economic analysis:

  • Values are approximate.
  • Efficiencies are realized when combining solar+storage in the same installation.
  • Most benefits outside the GLP will go to the nearby LA area.
  • Incentives for hiring locally would increase values for jobs and wages in GLP.
  • The model excludes expenditures outside state, such as purchases from solar manufacturers.

20-year benefits from 10 MW of new solar

20-year benefits from 20 MWh of new energy storage

20-year benefits from 10 MW of new solar +
20 MWh of new energy storage

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