COLLEGE PARK, Md. – A comprehensive study performed by the Business Economic and Community Outreach Network (BEACON) at Salisbury University, titled “Economic Impact of the Maryland Clean Energy Center,” revealed that the Maryland Clean Energy Center (MCEC) has generated $621.5 million in total statewide economic output since 2009, establishing itself as a vital component of Maryland’s economic growth. The report, which evaluated MCEC’s operations and initiatives through 2025, highlights an impressive return on investment for Maryland taxpayers, demonstrating that clean energy is a cornerstone of the economic and environmental future of Maryland.
The independent analysis, conducted by BEACON at Salisbury University, found that MCEC has supported 3,000 jobs and generated $236 million in labor income. Beyond job creation, the Center’s activities contributed $82.2 million in tax revenue to the state.
“This report confirms that clean energy is not just an environmental imperative, but a powerful economic catalyst for Maryland,” said MCEC Director Katherine Magruder. “For every public dollar MCEC receives, we are returning over $21 to the state’s economy. That is a winning formula for our residents, our businesses, and our climate goals.”
Exceptional Return on Investment
The study emphasizes the efficiency of MCEC’s “Green Bank” model. With total public funding of $28.7 million over the study period, MCEC achieved:
- $21.68 in economic output for every $1 of public investment
- $2.87 in tax revenue returned for every $1 of public investment
Driving Innovation and Infrastructure
The report evaluated several key MCEC initiatives that drive residential, commercial, and technological growth, including:
- MDPACE: Facilitated $230.2 million in economic output and supported over 1,100 jobs by providing innovative financing for clean energy commercial projects
- MEIA: Catalyzed $145.4 million in output by advancing clean energy start-ups and technology commercialization
- CEA: Generated an estimated $6.4 million in total statewide output towards residential energy projects
- MCAP: Contributed $70.1 million in output through essential financing for energy-related capital projects
- PTAS: Generated an estimated total statewide economic output of nearly $40 million for energy-related projects
- MDHELP: Facilitated an estimated total statewide economic output of $59.5 million, focusing on technical assistance and residential energy efficiency
A Cleaner Maryland
Established in 2008 by the Maryland General Assembly, MCEC has played a pivotal role in helping the state reduce greenhouse gas emissions by the largest amount in the nation, a 36% decline between 2005 and 2022. By bridging the gap between public policy and private investment, MCEC continues to ensure that Maryland remains a leader in the transition to a clean energy economy.
For more information on the Maryland Clean Energy Center and to view the full economic impact report, visit our website.
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