The Annually Recurring Economic Impacts of the Rooftop Solar Power Industry’s Ongoing Operations Contribute Significantly to the Economic Well-Being of Florida .... Total Economic Impact
Executive Summary
Florida's Rooftop Solar Power Industry acts as a catalyst for sustainable economic development, according to The Washington Economics Group, Inc (WEG) in its Comprehensive Economic Development Impact Study commissioned by Conservatives for Clean Energy The qualitative section of the report dives into the multifaceted externality benefits of rooftop solar, benefits that go well beyond the quantified impacts on jobs, household income, GDP, and other traditional economic indicators These externality benefits are visualized in the matrix accompanying the study, underscoring broader social and economic gains from Florida’s rooftop solar activities In addition to these externalities, the Florida rooftop solar industry contributes further advantages to the state's economy.
Growing industry operations across Florida generate significant, quantifiable economic impacts that touch communities throughout the state and support high-wage employment for Florida residents while boosting household income annually, among other economic benefits Section III of the Study analyzes these economic impacts in greater detail, with key findings summarized in Table ES-1.
Table ES-1 Summary of the Annual Economic Impacts Generated in Florida by the Ongoing
Operations of the Rooftop Solar Power Industry (by Impact Type)
Impact on: Direct Indirect Induced Total
Federal, State & Local Tax Revenues ($ Million) - - - $3,257
Note: Total may not equal the sum of all due to rounding
Source: The Washington Economics Group, Inc (WEG) n The large annually recurring economic impacts make the Florida Rooftop Solar Power
Florida's rooftop solar power industry is a top contributor to the state's economic activity and job creation, delivering $18.3 billion in total economic impact and supporting 40,462 jobs It also generates $3.2 billion in household income for Florida workers and contributes $10.6 billion to the state's gross domestic product, along with $3.3 billion in federal, state, and local tax revenues Importantly, the jobs and industries positively impacted by rooftop solar are concentrated in knowledge-based services—such as high-tech manufacturing, professional business services, and information technology—providing higher wages than the state average and supporting Florida’s Strategic Plan for Economic Development.
Direct employment figures shown in economic impact tables do not necessarily equal the total full-time equivalent (FTEs) This difference arises from the IMPLAN input/output (I/O) methodology, which estimates real, inflation-adjusted economy-wide impacts using industry-average wages and local productivity within the study area.
Supercharged: How the Sunshine State’s Rooftop Solar Power Industry
Industry Supports Florida’s Economic Development
The Rooftop Solar Industry in Florida is an important catalyst for the State’s sustainable economic development This qualitative assessment section of this Study by The
Washington Economics Group, Inc (WEG) highlights the economic development benefits of the Rooftop Solar Power Industry in Florida WEG was retained by Conservatives for Clean
This analysis evaluates both the quantitative and qualitative economic impacts of the Rooftop Solar Industry on Florida’s economy While Section III will quantify the industry’s measurable effects—jobs, investment, payroll, and state revenue—this section delves into the multifaceted qualitative benefits of rooftop solar activities These externality benefits surpass what can be easily counted, highlighting enhancements in energy resilience, environmental quality, public health, and long-term economic growth that accompany widespread rooftop solar adoption in Florida.
Solar Industry’s impact on improving the standard of living of all residents through clean and reliable energy for sustainable economic growth
As Florida continues to grow and diversify its economy, it is imperative that the State embrace and adopt renewable energy sources to meet burgeoning demand The Rooftop
Solar Industry in Florida delivers on this need and supports high-wage, high-skilled employment in doing so As an innovative leader in renewable energy delivery, Rooftop Solar
Power is essential for sustainable economic growth as Floridians enter the third decade of the 21st century, underscoring the need for reliable energy infrastructure to support business and communities Florida's rooftop solar power industry acts as a foundational driver of the state's economic development strategy, advancing the Florida Strategic Plan for Economic Development and accelerating clean energy jobs, resilience, and long-term growth.
By aligning with the ongoing efforts and interests of Florida's stakeholders, policymakers, and community leaders, the economic impacts of the rooftop solar power industry become more meaningful and widely understood These benefits ripple beyond what can be quantified using the professionally accepted Input/Output analysis, signaling broader gains in job creation, local investment, and energy resilience When policy, community priorities, and market opportunities converge in Florida, rooftop solar can drive sustainable economic development and long-term energy prosperity for communities across the state.
Humans have long harnessed the sun's energy, and the first practical photovoltaic (PV) cell was invented in 1954 In 1973, the University of Delaware created Solar One, the first solar residence on campus, providing energy to a building with support from Delmarva Power and Light Co This milestone demonstrated that solar power could power real structures on a university campus and accelerate renewable energy adoption.
Since the emergence of Swanson’s effect, the price of photovoltaic cells has fallen dramatically, signaling a consistent decline in solar costs This phenomenon shows that PV cell prices drop by roughly 75 percent every ten years, a trend illustrated by Figure 1 on the next page.
Florida, the Sunshine State, offers a strong opportunity for continued rooftop solar development and growth, with a robust and expanding solar industry According to the Solar Energy Industries Association (SEIA), Florida ranks fourth nationally for solar energy, down from third place in 2020 Key facts from SEIA show that 780,586 Florida homes are powered by solar, solar accounts for about 3.03% of the state's electricity, and the state hosts 414 solar businesses, including 66 manufacturers.
Installers/Developers and 139 Others) v Growth Projection: 12,042 MW over the next 5 Years (ranks 3 rd most among all US States)
1 Data comes from the utility scale solar farms and rooftop systems
Price of crystalline silicon photovoltaic cells
Source: Bloomberg, New Energy Finance and pv.energytrend.com
Florida's 80,997 total solar installations have supported 8,907 jobs, underscoring the strength of the state's solar economy Although rooftop solar represents only a fraction of Florida's overall solar market, its growth is accelerating and will become an important contributor to sustained economic growth in the future (see Figure 2 below).
From an economic development perspective, Florida’s rooftop solar power industry is a key driver, supporting high-wage, high-skilled employment across solar manufacturers, installers, wholesalers, traders, and technicians who earn above-average wages As the state seeks to diversify away from overreliance on hospitality and tourism, the rooftop solar sector represents a strategic area for Florida’s growth Policymakers and community leaders have already elevated the rooftop solar power industry as a priority for future economic development, noting a 17.8% increase in solar job creation in Florida from 2018 to 2019 The expansion of the state’s higher-wage, higher-skilled labor pool ultimately enhances Floridians’ standard of living and quality of life.
“Removing restrictions on leased solar systems has encouraged small-scale solar growth in Florida In 2020, small-scale solar capacity in Florida grew 57 percent, increasing from 492 MW in 2019 to 773 MW 3 ”
Source: U.S Energy Information Administration (EIA),
2 The Solar Foundation, State Solar Jobs Census: https://www.thesolarfoundation.org/solar-jobs-census/states/
3 https://www.eia.gov/todayinenergy/detail.php?idF996
Source: Solar Energy Industries Association (SEIA)
Figure 2 Florida Annual Solar Installations
One clear example of how the rooftop solar industry positively impacts Florida’s economy is the story of Steve Rutherford, a service-disabled Navy SEAL veteran who spent 22 years in the service and returned to Florida to help neighbors achieve energy independence Over the past nine years, his company, Tampa Bay Solar, has employed about 30 people across Central Florida, with roughly one‑third of them veterans, illustrating how solar jobs support local communities Tampa Bay Solar embodies the Sunshine State’s rooftop solar growth and highlights ongoing opportunities for expansion in Florida’s solar economy and workforce.
According to the National Renewable Energy Laboratory (NREL), Florida could meet up to 30% of its total electricity needs with solar power over the next decade, a projection that depends on the prices of other electricity sources, such as natural gas, and broader market conditions Elaine Hale, the study’s lead author, says the share could rise even higher depending on how and whether future Florida state policymakers calculate the climate costs of fossil-fueled energy.
An analysis of Florida's rooftop solar power industry shows how closely it aligns with the state's economic development goals identified by policymakers and community leaders The Florida Foundation’s Six Pillars framework indicates that rooftop solar directly supports most of the key strategies driving Florida’s economy By enabling local job creation, attracting private investment, and advancing energy reliability and sustainability, the rooftop solar sector reinforces the state's growth plan This alignment highlights rooftop solar not just as an environmental initiative but as a strategic economic asset for Florida Stakeholders can leverage this synergy to advocate for supportive policies, workforce development, and community partnerships that accelerate solar deployment and long-term prosperity.
• Quality of Life and Quality Places
4 From 2018 https://www.osti.gov/biblio/1457670
Florida’s rooftop solar power industry drives growth through operational initiatives that directly align with Florida’s Strategic Plan for Economic Development By supporting the state’s economic pillars, this sector creates a synergistic effect that enhances economic development outcomes far more profoundly than would occur without such supportive industries, underscoring rooftop solar as a catalyst for Florida’s economy.
According to Enterprise Florida, the state’s economic development organization, cleantech is one of Florida’s most important and major industries, underscoring its strategic role in the Florida economy Rooftop solar contributes significantly to a robust and targeted cleantech industry across the state.
Floridians recognize the strong link between sustainability and the economy, using innovation and the state's entrepreneurial spirit to build one of the nation’s leading clean technology (cleantech) hubs From ocean energy to green architecture, Florida offers an established cleantech presence across the spectrum, solidifying its role as a premier destination for sustainable innovation.
Rooftop solar power businesses form part of the more than 11,750 Cleantech companies established in the Sunshine State The Cleantech Industry Profile designates Solar Power as an area of excellence for the state and shows that it is leveraged in marketing materials to attract and retain stakeholders.
5 https://www.enterpriseflorida.com/industries/cleantech/
The Annually Recurring Economic Impacts of the Rooftop Solar Power Industry’s Ongoing Operations Contribute Significantly to the Economic Well-
Industry’s Ongoing Operations Contribute Significantly to the Economic Well-Being of Florida
Florida's rooftop solar power industry is expanding, creating employment opportunities for local residents across the state This growing sector also boosts the state's GDP and strengthens economic productivity through economies of scale and agglomeration, while increasing operating revenues for Florida-based businesses that supply a wide range of goods and services to the solar industry.
The IMPLAN Group, LLC (IMPLAN) developed the software and core data used to formulate the economic multiplier model employed in this study IMPLAN has provided economic multiplier models for regional economic impact analysis since 1985, and models built with IMPLAN software have been widely used by private-sector and academic economists, as well as federal, state, and local government agencies, to measure the impacts of specific economic activities All impacts are estimated on a recurring annual basis and are based on Florida industry employment of 8,907 for 2019.
Since the 1960s, economic models that explicitly account for inter-industry linkages, the generation of labor and capital income, and household spending have been used to estimate an industry's contribution to the broader economy These input-output models recognize that when demand for an industry's products increases, it must buy more goods and services from its suppliers and from other sectors in the economy The resulting change in regional production from successive rounds of these linkages is called the indirect effect As production expands, employment and household income rise, boosting consumer spending and further expanding sales and output—a dynamic known as the induced effect Through multiple waves of production, spending, and additional production, multiplier effects emerge, so the total increase in regional output, income, and employment exceeds the initial direct increase Consequently, the overall economic contribution comprises direct, indirect, and induced effects.
8 Information on the IMPLAN Group, LLC models and the company history can be found at www.implan.com
9 The Solar Foundation 10 th Annual National Solar Jobs Census 2019, February 2020 http://www.SolarJobsCensus.org
This section summarizes the economic impacts generated by the ongoing operations of Florida's rooftop solar power industry and their contributions to the Florida economy, measured across key indicators such as employment (jobs), household income, gross domestic product (GDP), total economic impact, and federal, state, and local fiscal revenues.
The Rooftop Solar Power Industry is an Important Contributor to Overall
Economic Growth and the Well-Being of Florida Residents
Florida's rooftop solar power industry generates an $18 billion annual economic impact, supports 40,462 jobs, and yields over $3 billion in household income It contributes more than $10 billion to the state's gross domestic product each year and generates over $3 billion in federal, state, and local tax revenues Taken together, these large impacts establish rooftop solar as a top contributor to Florida's economic activity and a major source of statewide job opportunities.
Table 1 Summary of the Annual Economic Impacts Generated in Florida by the Ongoing
Operations of the Rooftop Solar Power Industry (by Impact Type)
Impact on: Direct Indirect Induced Total
Federal, State & Local Tax Revenues ($ Million) - - - $3,257
Note: Total may not equal the sum of all due to rounding
Source: The Washington Economics Group, Inc (WEG)
Ongoing rooftop solar operations generate economic impacts that extend beyond the direct activities of the Rooftop Solar Power Industry in Florida These spillover, or multiplier, effects stem from the supply relationships each business has with other firms within the state economy, the portion of value added that accrues to households as labor and capital income, and households’ propensity to spend income on goods produced locally.
Note that the direct employment figures shown in the economic impact tables do not necessarily equal the total full-time equivalents (FTEs) This discrepancy arises from the IMPLAN input/output (I/O) model, which measures real, inflation-adjusted, economy-wide impacts based on industry-average wages and productivity within the study area.
10 “Value added” refers to the difference between business revenues and the cost of non-labor and non-capital inputs used to produce goods and/or services
The direct, indirect and induced economic impacts of the Florida Rooftop Solar Power
Industry were calculated using an extended input-output model of the Florida economy
The following analysis presents the economic impacts on Employment (Jobs), Household Income, Gross Domestic Product (GDP) and Total Economic Impact by specific industries, as well as Fiscal Revenues generated from the operations of the Florida Solar Power Industry.
An Estimated 40,462 Jobs are Supported Throughout Florida by the Ongoing
Operations of the Rooftop Solar Power Industry
The operations of the Rooftop Solar Power Industry create 40,462 jobs in Florida Just over
Direct jobs at firms in the industry account for 22 percent (8,907) of total employment, while indirect and induced impacts add 31,555 jobs, yielding a combined total of about 40,462 jobs in the state economy (Table 1, page 11) Approximately 44 percent, or over 17,970 of these jobs, occur in the Knowledge-Based Services sector, which relies on workers with high productivity skills gained through post-secondary degrees and ongoing training.
Table 2 Total Jobs Supported in Florida by the Ongoing Operations of the
Rooftop Solar Power Industry (by Industry Sector)
Industry Jobs Supported % of Total
Notes: Total may not equal the sum of all due to rounding See detailed table in Appendix III
Source: The Washington Economics Group, Inc (WEG)
Among the major industries in this category, high-tech manufacturing, information technology (IT), finance and insurance, real estate, professional and administrative services, and arts, entertainment and recreation have wages that are higher on average than the state average.
Therefore, the operations of Rooftop Solar Power Energy support an estimated total of 40,462 jobs—directly, indirectly, and induced—significantly contributing to employment opportunities.
About 12,718 jobs, or 31%, are supported in the Government & Other sector; 3,653 jobs, or 9%, are in Wholesale Trade & Transportation Services The remaining employment is concentrated in the Visitor Industry and Retail Trade sectors, each accounting for 7%, with 1% in the Construction and Manufacturing sectors combined, as presented in Table 2 and Figure 3.
The Rooftop Solar Power Industry Ongoing Operations Contribute
Substantially to the Standard of Living of Florida Residents
Florida's rooftop solar power industry enhances residents' standard of living by adding an estimated $3 billion-plus in income to the state's households, driven by employment impacts within the sector; this figure reflects earnings from jobs related to rooftop solar and does not include any income attributable to the electricity generated by rooftop solar installations.
The Rooftop Solar Power Industry is directly responsible for the generation of $1.3 billion, and the indirect and induced impacts generate over $1.8 billion in Household Income in the State of
Florida every year (Table 1, page 11.) As presented in Table 3 and Figure 4 on the next page,
Figure 3 Total Jobs Supported in Florida by the Ongoing Operations of the Rooftop Solar Power Industry
Knowledge-Based Services Government & Other
Transportation Services Visitor Industry Retail Trade Construction and Manufacturing
Source: The Washington Economics Group, Inc (WEG)
In total, the jobs supported by the Rooftop
Solar Power Industry’s ongoing operations contribute to the standard of living of Florida residents by adding an estimated $3 billion in
Annual household income data show that workers in the Government and Other sectors earned $1.8 billion, accounting for 58% of total labor compensation, while workers in the Knowledge-Based Services sector earned about $929 million, or 29% of total labor compensation, reflecting ongoing industry operations.
Table 3 Household Income Generated in Florida by the Ongoing Operations of the Rooftop Solar Power Industry (by Industry Sector)
Note: Total may not equal the sum of all due to rounding See detailed table in Appendix III
Source: The Washington Economics Group, Inc (WEG)
11 According to IMPLAN, Government & Other is a large sector because electric utilities (including solar electric) aggregate into this sector.
Key industries in this category—high-tech manufacturing, information technology (IT), finance and insurance, real estate, professional and administrative services, and arts, entertainment & recreation—consistently offer wages that exceed the state average.
Figure 4 Household Income Generated in Florida by the Ongoing
Operations of the Rooftop Solar Power Industry
Source: The Washington Economics Group, Inc (WEG)
Wholesale Trade & Transportation Services generate $224 million, or 7 percent, of the state’s Household Income The remaining 6 percent of Household Income is generated by all other sectors of the state economy, with Retail Trade accounting for 3 percent (more than $90 million), the Visitor Industry at 2 percent, and Manufacturing and Construction at 1 percent.
Gross Domestic Product Impacts: The Rooftop Solar Power Industry’s Ongoing
Operations are Important to the Overall Economic Activity in Florida
Gross Domestic Product (Value Added) represents the portion of business revenue available to pay compensation to workers, returns on capital, and indirect business taxes It is the principal source of income for households and a key measure of the economy’s performance, including the contribution of the Rooftop Solar Power Industry This industry contributes a net amount to the State economy of over $10 billion annually, as shown in Table 4.
Of this, over $6 billion is attributed to direct impacts, and more than $4 billion comes from indirect and induced impacts (Table 1, page 11)
Table 4 GDP (Value-Added) Impacts Generated in Florida by the Ongoing
Operations of the Rooftop Solar Power Industry (by Industry Sector)
Note: Total may not equal the sum of all due to rounding See detailed table in Appendix III
Source: The Washington Economics Group, Inc (WEG)
Each year, the Rooftop Solar Power Industry contributes more than $10 billion to Florida's GDP Of this total, about $8 billion (78%) is generated in the Government & Other sector, followed by roughly $1.6 billion (15%) in the Knowledge-Based sector.
Within this category, major industries such as High-Tech Manufacturing, Information Technology (IT), Finance and Insurance, Real Estate, Professional, Administrative Services, and Arts, Entertainment & Recreation offer higher wages on average than the state average.
Within the industry breakdown, the Services sector contributed $404 million, or 4 percent, to the Wholesale Trade & Transportation Services sector and $152 million, or 1 percent, to the Retail Trade sector The remaining 2 percent was generated by the Visitor Industry and the combined Manufacturing and Construction sectors The percentage distribution for each industry sector is illustrated in Table 4 on the previous page and in Figure 5 below.
The Total Economic Impact Generated by the Florida Rooftop Solar Power
Total Economic Impact (TEI) measures the overall production generated by an industry or business In this context, TEI captures the total goods and services produced by the rooftop solar power industry’s activities in Florida, illustrating how this sector contributes to the state’s economy.
Similar to other impact measures, a significant portion of the Total Economic Impact is concentrated in the Government & Other sector, representing about 77% of the total and more than $14 billion Additionally, roughly 16% of the impact, or nearly $3 billion, is generated within the Knowledge-Based sector.
Source: The Washington Economics Group, Inc (WEG)
The Total Economic Impact of the Florida
Rooftop Solar Power Industry is estimated at slightly over $18 billion annually, a significant contribution to the State economy and jobs for residents
Figure 5 GDP (Value-Added) Impacts Generated in Florida by the Ongoing Operations of the Rooftop Solar Power Industry
Government & Other Knowledge-Based Services
Visitor IndustryManufacturing and Construction
Florida's economy allocates 4 percent of the services output to the Wholesale Trade & Transportation Services sector, with the remaining 3 percent distributed among the Retail Trade, Visitor Industry, and Manufacturing and Construction sectors These allocations are shown in Table 5 and illustrated in Figure 6.
Table 5 Total Economic Impact Generated in Florida by the Ongoing Operations of the Rooftop Solar Power Industry (by Industry Sector)
Note: Total may not equal the sum of all due to rounding See detailed table in Appendix III
Source: The Washington Economics Group, Inc (WEG)
Within this category, major industries including high-tech manufacturing, information technology (IT), finance and insurance, real estate, professional and administrative services, and arts, entertainment & recreation generally offer wages higher than the state average.
Source: The Washington Economics Group, Inc (WEG)
Figure 6 Total Economic Impact Generated in Florida by the Ongoing Operations of the Rooftop Solar Power Industry
Government & Other Knowledge-Based Services
Manufacturing and ConstructionSource: The Washington Economics Group, Inc (WEG)
The Florida Rooftop Solar Power Industry Generates Important Contributions
to Public Revenues Each Year
The rooftop solar power industry in Florida delivers substantial public-sector revenue each year Nearly $1 billion, or about 31 percent, goes to the Federal government, while more than $2 billion, or about 69 percent, flows to state and local governments In total, the industry generates over $3 billion in Federal, State, and Local government revenues annually, as shown in Table 6.
Table 6 Fiscal Contributions Arising from the Ongoing Operations of the Rooftop Solar Power Industry in Florida ($ Thousands) Taxes and Fees Paid By: Federal
State and Local Taxes Total Taxes
*IMPLAN does not take into account of any Federal Tax Credits for Rooftop Solar
Total may not equal the sum of all due to rounding
Source: The Washington Economics Group, Inc (WEG)
The rooftop solar power industry delivers substantial benefits to Florida, combining positive externalities for the state with measurable economic development impacts that drive growth These impacts translate into job creation and higher household incomes for Florida residents, while delivering clean, reliable energy that improves the standard of living.
Methodology
IMPLAN multipliers are built on the input-output methodology, which captures how industries rely on labor and inputs from other sectors to generate output When an industry’s demand rises, its suppliers and customers experience higher demand through inter-industry linkages, producing indirect effects Simultaneously, higher regional production increases household income via jobs, fueling additional demand for goods and services—the induced effects Firms also expand their capital to accommodate higher activity, further stimulating regional growth Through successive rounds of production driven by these linkages and spending, the total output change exceeds the initial demand change (the multiplier effect), and the total regional employment change is a multiple of the initial payroll change.
The following represents the system of equations that comprise the regional economy in an extended input-output model like IMPLAN:
Let x1 through xk denote the total output produced in each industry The aij are the direct requirement coefficients, representing the purchases from industry i that are needed to produce one dollar of output in industry j The variable xh denotes household income, and the coefficients aih show the average amount of household income spent on purchases from industry i, i.e., the average propensity to consume for that industry Conversely, the coefficients ahi describe the household income generated from each dollar of output in industry i Finally, xI represents regional spending on capital goods, with aIj indicating the amount spent on capital goods per dollar of output produced in industry j Together these variables and coefficients form the inter-industry, consumption, and capital expenditure links in the input-output framework.
Within the regional input-output framework, the coefficient a_jI represents the amount purchased from industry j for each dollar spent on capital goods within the region The variables f_j represent the exogenous final-demand faced by each industry, respectively.
This system of equation reduces, using matrix notation, to the following solution for industry output and household income:
X represents the vector of industry outputs plus household income, and F is the vector of exogenous final demands Output multipliers, which measure the change in industry output and household income resulting from a change in final demand for a specific industry’s output, are given in the columns of the inverse matrix (I − A)⁻¹ IMPLAN software calculates these multipliers for counties, states, and other sub-state regions, enabling an assessment of the economic importance of an industry or economic activity within a region The impacts on gross state product, labor income, capital income, and government revenue are derived from these basic output multipliers provided by (I − A)⁻¹.
IMPLAN draws on historical links between public-sector revenues and regional economic output to estimate the public-sector revenue impact of starting a new economic activity or expanding an existing one By leveraging these relationships, the model projects how government revenues may change as development proceeds, helping policymakers and planners assess the fiscal implications of investment, expansion, and regional growth.
Economic Glossary
Definitions of Economic Terms Used in the Analysis
Employment Total of full-time or part-time jobs
Household (Labor) Income All forms of employment income, including Employee Compensation
(wages and benefits) and Proprietor Income
Value added to a product results from the economic inputs of labor and capital expended at a given production stage In the IMPLAN Model, GDP equals the sum of Employee Compensation, Proprietor Income, Other Property Type Income (Interest), and Indirect Business Taxes, showing how this value is distributed among workers, business owners, lenders, and the government.
Economic Impact (Output) Total value of all transactions attributed to an activity
IMPLAN impact analysis relies on a set of input-output multipliers applied to a predictive model to quantify economic effects These multipliers represent a series (or a single) of production changes or expenditures by producers and consumers that arise from a specific activity or policy An analyst defines these initial changes as the direct result of the activity or policy under study When these initial changes are applied to the IMPLAN multipliers, the model reveals how the region will respond economically, showing shifts in output, employment, and other key indicators driven by the initial changes.
Local industries buying goods and services from other local businesses drives the circular flow of spending, as dollars move backward through the supply chain until money leaks from the local economy through imports or payments to value-added activities The resulting economic impacts are quantified by applying Direct Effects to the Type I Multipliers, providing a clear measure of how initial local spending propagates throughout the regional economy.
An economy responds to an initial change with a direct effect that arises when income earned by a component of value added is re-spent, triggering further rounds of local activity IMPLAN's default multiplier acknowledges that labor income—employee compensation and proprietor income—does not leak from the regional economy; rather, this income is re-circulated through household spending patterns, fueling additional local economic activity.
Detailed Economic Impact Tables
Within the main portion of the Study the economic impacts are presented at a summary level
In this economic impact analysis, direct, indirect, and induced effects are aggregated into the Total Impact, while industries are summarized by function to show how each sector contributes to overall economic activity The accompanying Tables present detailed impacts at the two-digit NAICS industry classification level, providing a precise view of sector-specific contributions to the economy This structure enables clear interpretation of how activity generates combined effects across supply chains and final demand, with two-digit NAICS codes offering a standardized framework for industry comparison.
The following industry sector summarizations are used in this Study:
Government & Other is the sum of: Agriculture & Forestry, Mining, Utilities, Company
Knowledge-Based Services is the sum of: Information (IT), Finance & Insurance, Real
Estate, Professional Business Services, Administrative, Educational Services, Health & Social Services, Arts, Entertainment & Recreation and Other Services
Wholesale Trade & Transportation Services is the sum of: Wholesale Trade and
The Accommodation and Food Services sector was renamed Visitor Industry
The Rooftop Solar Power Industry Economic Impacts Tables
Table A-1 Total Jobs Supported in Florida by the Ongoing Operations of the Rooftop
Table A-2 Household Income Generated in Florida by the Ongoing Operations of the
Table A-3 GDP (Value-Added) Impacts Generated in Florida by the Ongoing
Operations of the Rooftop Solar Power Industry 28
Table A-4 Total Annual Economic Impact Generated In Florida by the Ongoing
Operations of the Rooftop Solar Power Industry 29
Table A-1 Total Jobs Supported in Florida by the Ongoing Operations of the Rooftop Solar Power Industry
Note: Total may not equal the sum of all due to rounding
Source: The Washington Economics Group, Inc (WEG)
Table A-2 Household Income Generated in Florida by the Ongoing Operations of the Rooftop Solar Power Industry ($ in Thousands)
Arts, Entertainment & Recreation $0 $4,317 $14,136 $18,453 Accommodation & Food Services $0 $21,534 $52,022 $73,556
Note: Total may not equal the sum of all due to rounding
Source: The Washington Economics Group, Inc (WEG)
Table A-3 GDP (Value-Added) Impacts Generated in Florida by the Ongoing Operations of the Rooftop Solar Power Industry ($ in Thousands)
Arts, Entertainment & Recreation $0 $6,357 $21,703 $28,060 Accommodation & Food Services $0 $32,963 $82,148 $115,111
Note: Total may not equal the sum of all due to rounding
Source: The Washington Economics Group, Inc (WEG)
Table A-4 Total Economic Impact Generated in Florida by the Ongoing Operations of the Rooftop Solar Power Industry ($ in Thousands)
Arts, Entertainment & Recreation $0 $10,378 $36,302 $46,680 Accommodation & Food Services $0 $55,235 $147,300 $202,535
Note: Total may not equal the sum of all due to rounding
Source: The Washington Economics Group, Inc (WEG)
The Washington Economics Group, Inc Project Team and
The Washington Economics Group, Inc
Tony Villamil is a nationally recognized economist with more than thirty-five years of experience as a business economist, university educator, and high‑level policymaker for both federal and state governments In 2008, he was selected as the founding Dean of the School of Business at St Thomas University, a post he held until December 31, 2013, when he resigned to return as a senior advisor to his growing economic consulting practice, The Washington Economics Group, Inc (WEG) WEG is a Florida‑based economic consulting firm established in 1993 after Villamil returned to Florida from public service in Washington, D.C.
Tony is the immediate past Chairman of Florida’s Governor’s Council of Economic Advisors and, from 1999 to 2000, was selected by Governor Bush as Director for Tourism, Trade and Economic Development to drive Florida’s economic development Previously, President George H W Bush appointed him U.S Undersecretary of Commerce for Economic Affairs, with unanimous U.S Senate confirmation He currently serves on corporate boards, including Pan American Life Insurance Group (PALIG) and Spanish Broadcasting System (SBS), chairing PALIG’s Governance and Nominating Committee and the SBS Board’s Compensation Committee He recently completed an 18-year tenure at Amerant Bank, N.A and Amerant Holding Corp., where he chaired the Risk Committee and most recently the AML/BSA Committee Amerant Bank, N.A was formerly Mercantil Bank, N.A and became a public company in 2020 during his active board service.
In his civic and professional leadership roles, he currently serves on the Board of Directors of the Miami-Dade Beacon Council—the official economic development organization for Miami-Dade County—and on the Board of Directors of the Greater Miami Chamber of Commerce He is also a Senior Fellow at the James Madison Institute (JMI) in Tallahassee, Florida.
He earned bachelor's and master's degrees in economics from Louisiana State University (LSU), where he also completed coursework toward the Ph.D degree In 1991, Florida International University (FIU) awarded him a Doctoral Degree in Economics (hc) for “distinguished contributions to the Nation in the field of economics.” He frequently speaks to business, government, and university audiences on the Florida economy, U.S trade policy, and economic development issues.
Jose Antonio (TJ) Villamil IV
Jose Antonio (TJ) Villamil serves as Director of Operations of The Washington Economics Group, Inc (WEG) TJ oversees the client relations, marketing and business research functions of the firm
Before joining WEG, TJ was the Manager of Social Media for the Keiser University System of Florida He later served as the University of Florida (UF) Special Assistant to the University President from May 2014 to December 2015, and concurrently as the assistant corporate secretary to the UF Board of Trustees In that capacity, TJ assisted the UF President in overseeing a $4.6 billion budget and operations affecting 50,000 students, 16 colleges, two academic health centers, and more than 150 research centers, while directing special projects and providing strategic advice to President Bernie Machen and the UF Board He left UF when Dr Machen retired after 12 years of service and returned to his hometown of Miami to join WEG.
TJ is a proud double graduate of the University of Florida, earning a Master’s in Entrepreneurship from the Hough Graduate School of Business and an undergraduate degree in Telecommunications – News from the College of Journalism and Communications He served as UF Student Body President from 2012 to 2013, representing the 50,000-member Gator Nation student body During his tenure, TJ also represented all student interests on the UF Student Government.
UF Board of Trustees and on the boards of directors of the UF Alumni Association, the UF Foundation and the University Athletic Association
Chuck Yaros is an Associate Consultant for Economics at The Washington Economics Group (WEG), serving as an economic consultant in financial economics and economic impact studies Prior to joining WEG, he was Vice President and Portfolio Strategist at Shay Financial Services in Miami, where he specialized in developing, implementing, and managing interest rate risk and capital optimization strategies for financial institutions.
Mr Yaros is a business and financial economist with more than 20 years of experience, having held a series of positions of increasing responsibility across the South Florida business community He has also served as a speaker and educator, delivering talks and teaching courses on financial risk management.
Chuck earned a Bachelor’s degree in Economics with honors from Trinity College and a Master’s degree in Economics from Duke University, where he also completed coursework toward a Ph.D He and his family live in Coral Gables, Florida.
Haydee M Carrion has been Executive Assistant to Dr Villamil since the firm’s founding in
1993 She has senior level expertise in multi-media presentations and in the preparation and design of complex reports and documents for clients, utilizing the latest technologies
In 2012, WEG promoted Ms Carrion to Senior and Project Research Assistant, recognizing her outstanding performance in web-based research and her support to the firm’s Principal in preparing audiovisual client presentations and in desktop publishing She is fluent in Spanish and has experience preparing economics and business documents in Spanish.
Ms Carrion has been with WEG for over 25 years Ms Carrion holds degrees in Business Administration and Office System Technologies from Miami-Dade College.
Since 1993, the Washington Economics Group, Inc (WEG) has delivered economic consulting services to corporations, institutions, and governments across the Americas, helping clients achieve their objectives With deep expertise, top-tier contacts, and strategic alliances, WEG strengthens clients’ competitive positioning in the growing markets of Florida, Latin America, and the Caribbean.
Our roster of satisfied clients, over the past 28 years, includes corporations, financial institutions, public entities, and non-profit associations expanding their operations in the Americas
Each client is unique to us We spend considerable time and effort in understanding the operations, goals, and objectives of clients as they seek our consulting and strategic advice
We are a selective consulting firm that does not operate as mass-production and accepts only a limited number of clients each year for customized services in our premier areas of specialization Our exclusive offerings are led by Founder and Senior Advisor J Antonio (Tony) Villamil, a former U.S Under Secretary of Commerce with more than 35 years of experience as a business executive and as a senior public official at the U.S level, most recently in Florida.
Economic impact studies quantify how a client’s activities generate income, output, and employment in the market area served by the entity, highlighting their role in local economic vitality These analyses are also used to assess how public policy changes—such as tax reforms, zoning regulations, and environmental permitting—could affect a client’s operations and related economic outcomes By evaluating these factors, stakeholders can understand both the direct and indirect effects of business activity on the regional economy and gauge the potential impact of policy shifts.
Strategic Business Development Services are tailored to align with each client’s objectives, delivering customized solutions across marketing strategy, risk assessment, and communications Recent consulting engagements include developing bespoke marketing strategies, conducting country risk assessments to inform investment decisions, and coordinating corporate spokesperson activities, including delivering speeches on behalf of the client at public or private meetings.
Our firm specializes in economic development strategies for cities, counties, and states, helping them design targeted economic development plans that attract, retain, and expand high-wage industries Each plan is tailored to the area's factor endowments and developed in close coordination with public officials responsible for economic development to ensure aligned, effective implementation.
For a full description of WEG capabilities and services, please visit our website at: www.weg.com
The Washington Economics Group, Inc
Joseph E Seagram & Sons, Inc (Vivendi)
Lockheed Martin Lucent Technologies MasterCard International MediaOne/AT&T Medtronic Merck Latin America Microsoft Latin America Motorola
Phelps Dodge SBC Communications Telefonica Data Systems Visa International
Construction and Real Estate Development Firms
Florida East Coast Realty Inc
Inland Port Systems, LLC Landstar Development LXR Luxury Resorts Miami Asset Management Company, Inc
Miapolis, LLC Odebrecht Construction, Inc
Palazzo Las Olas Group, LLC Tate Capital
The Allen Morris Company The Related Group, Inc
The Rouse Company The St Joe Company Trammel Crow Company WCI Development Companies
Engineering, Planning and Design Firms
CDM Smith (Wilbur Smith Associates)
HNTB Kimley-Horn and Associates Parsons Brincherhoff Redevelopment Management Associates (RMA)
Palm Beach Medical Education Corporation
Rocky Mountain College of Art and Design San Ignacio College
St Thomas University University of Central Florida Universidad Politécnica de Puerto Rico University of Florida
University of Miami UM’s Rosenstiel School of Marine and Atmospheric Science University of South Florida/ENLACE
Greenberg Traurig, LLP Holland & Knight, LLP Steel Hector & Davis Tew Cardenas, LLP
FIBA Fiduciary Trust International First Union National Bank (Wells Fargo) Hemisphere National Bank
HSBC/Marine Midland International Bank of Miami (First United Bank) Lazard Freres & Co
Pan American Life Insurance Group (PALIG) PointeBank, N.A
Seitlin Insurance Sun Trust Corporation The Equitable/AXA Advisors
Union Planters Bank of Florida (Regions)