The shared economic benefits of wind farm development in Australia could deliver an estimated $10.5 billion back to regional communities, a new report has found. In addition, over 6,000 local jobs could be created. Sophie Vorrath takes a look. The report, published by the Australian Wind Alliance on Monday, marks the first major coordinated effort to list and detail the direct and indirect financial and social benefits to Australia’s regional communities from wind power. It finds that, so far, wind energy has delivered a $4 billion boost to Australia’s regional economies, with an increasing portion of that going directly to host communities via a range of so-called “benefit sharing mechanisms” (BSM). Currently, the report says, between $19 and $21.5 million a year goes directly to communities through BSMs. But with another 14 more wind farms currently under construction, that annual figure is expected to increase to between $30 and $32.5 million, and stretch out to $10.5 billion over the projects’ 25-year lifetime. As RenewEconomy reported here, “benefit sharing” has become central to the wind development process … Continue reading Australia’s wind farms on track to deliver $10.5bn back to host communities