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Kaheawa Wind is proof that the economy doesn't have to be sacrificed as we work to protect our environment. In fact, the production of clean, renewable energy offers a wealth of benefits to help move Maui forward economically while maintaining the island's commitment to nature's preservation.
- Local contracts: $17 million in site constructing contracts and services
- New state revenue: $7 million of lease revenue to the state for land use
- More jobs for residents: $3.8 million in job-related income (plus income tax revenues)
- Additional tax revenue: $1.9 million of property taxes (0.2 % per year over 25 years) and $1.1 million in state excise tax revenues
- Reduced reliance on oil: A good rule of thumb is that wind power becomes economically viable at $30 per barrel. Kaheawa Wind is saving roughly $76.6 million in imported fuel costs savings based on oil at just $30 per barrel while current imported oil costs are over $70 per barrel
- Fewer imports: Improved balance of trade, reducing imports of oil by approximately $10 million annually
- Lower costs: Current cost of energy offered to utility is approximately 60% below current avoided costs
- Fixed prices: Stable prices through energy that can be delivered at fixed prices unaffected by fluctuating fuel costs or international affairs
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