University of Maryland NextGen Economic Impact Study
BP performed an economic impact study as part of Terrapin Energy Partner’s proposal to the University of Maryland to design, engineer, finance, install and maintain a new campus energy system at College Park.
The NextGen proposal was designed to achieve campus-wide net zero carbon emissions by 2035, with a scenario for 2050, in support of the university’s climate action plan. Options were included for increased building energy efficiency, and greater use of technologies for recycling, renewable energy, low and zero-emission fuels, energy storage, microgrid technologies and energy control systems.
For the project, the EBP team used IMPLAN to analyze the expected statewide economic impact of the proposed campus energy system. Impacts studied included direct spending effects, direct cost savings effects, indirect effects generated at product and service suppliers in the state, and induced effects. The metrics used were jobs created, income growth for Maryland, and added tax revenue.