NREL has an economic impact of more than $1 billion

GOLDEN  — The National Renewable Energy Lab, or NREL, had an economic impact of more than $1.1 billion nationwide in the fiscal year of 2017, according to a new study from the University of Colorado Leeds School of Business.

The study also found that NREL had an impact on Colorado’s economy of about $748 million.

“NREL’s work in Colorado has far-reaching impact and benefits the country through our award-winning research and advanced energy solutions,”  Martin Keller, NREL director and president of the Alliance for Sustainable Energy LLC, said in a prepared statement.

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The study found that during FY 2017, NREL employed 1,745 full-time and part-time employees. About 60 percent of employees were involved in core research and development.

More than 95 percent of NREL employees have bachelor’s degrees. About 64 percent have advanced degrees — 31.7 percent hold doctoral degrees and 31.9 percent have their master’s.

NREL employees volunteered for 1,529 hours and contributed $478.052 to local nonprofits.

More than 95 percent of NREL’s employees live in the Denver and Boulder metropolitan statistical areas. NREL, based in Golden, is a top 10 employer in Jefferson County, which saw a $413 million economic impact in FY 2017.

“NREL positions Jefferson County and metro Denver as a leader in the energy industry,” said Kristi Pollard, president and chief executive officer of the Jefferson County Economic Development Corporation, in a statement. “The lab’s highly skilled workforce, innovative facilities, and business partnerships are key to the region’s economic vitality.”

During the fiscal year of 2017, NREL had 739 active partnership agreements with 513 partners. In FY 2017 NREL signed $80 million in new partnership agreements.

The report was funded by the Alliance for Sustainable Energy, which manages and operates NREL for the Department of Energy. The study was conducted by Richard Wobbekind and Brian Lewandowski of the Business Research Division at the Leeds School of Business.