Created by the Climate Solutions Now Act of 2022, the Energy Industry Revitalization Working Group will focus on the possible opportunities and impacts on small businesses and potential facility closures due to the transition of an economy with more renewable energy.
THE WORKING GROUP WILL:
- Advise the commission on issues and opportunities related to small business revitalization and the transition to renewable energy's effects on small businesses.
- Conduct a study of the impacts of transitioning to renewable energy; and include in the study:
(I) The number of small businesses impacted by the transition to renewable energy;
(II) The projected cost of transitioning existing small businesses to renewable energy;
(III) The economic impact of the transition to renewable energy and new energy sources, including supply chain impacts;
(IV) An analysis that identifies energy generating facilities that may close as a result of a transition to renewable energy, including issues and opportunities related to repurposing the sites; and
(V) An analysis that identifies or estimates, to the extent practicable:
1. The timing and location of facility closures and layoffs in nonrenewable energy industries;
2. The impact of facility closures and layoffs on affected workers, businesses, and communities; and
3. How the commission can most effectively respond to the impact of facility closures and layoffs, including the potential to:
A. Compensate businesses that closed due to the effects of the transition to renewable energy; and
B. Incentivize businesses to transition to renewable energy through subsidies.
This working group will report its study findings to the Commission and the General Assembly.
Study and Staff Support:
Jared Williams, Climate Change Policy Analyst, Maryland Department of the Environment, jared.williams@maryland.gov
Meeting Materials
