The Philadelphia Energy Campaign, an initiative to advance energy affordability, resiliency and sustainability across Philadelphia, has resulted in more than 11,000 jobs and $1.3 billion in economic investment and generated over $1.4 billion in energy savings for the city and its residents since it launched in 2016, according to a 10-year economic impact report released this month.
The partnership between the Philadelphia Energy Authority, the city of Philadelphia and the Philadelphia City Council generated $25.3 million in annual tax revenue and over $130 million per year in capital investment for energy efficiency and infrastructure, according to the report. The campaign “has saved millions in utility bills for the City of Philadelphia, homeowners, and commercial property owners, and generated significant tax revenues while cutting emissions and improving the health of buildings and tenants across the entire city,” the report states.
“We’ve come so far,” PEA President and CEO Emily Schapira told Smart Cities Dive. “We got $14.7 million total over the 10 years from the city of Philadelphia towards our operating budget. That was their investment. And we turned that into $1.3 billion and over 11,000 jobs. It's really been an amazing 10 years.”
