"The economic impacts of climate change on Maryland will depend on the exact physical changes that manifest themselves over the coming decades" [1]. "The physical changes and altered weather patterns that develop from the impacts of climate change will significantly influence Maryland’s coastline, agricultural productivity, ecosystems, energy systems, and overall economy" [1]. This page details various economic impacts of climate change, in addition to potential avenues for mitigation and their economic costs versus benefits. |
With just 2 feet of sea-level rise, 550 square miles of land in Maryland could be inundated at high tide, including the property and homes of over 60,000 people and 66 miles of roads [8]. |
We can look at instituting new energy supply chains as a threat, or recognize that it can be a great opportunity for profit and jobs.
"Today's energy-climate challenge is a series of opportunities disguised as insoluble problems.”
-John Gardner & Thomas Friedman
MARYLAND ECONOMICS
INFRASTRUCTURE
The largest economic impact of climate change for Maryland will be on its coastal infrastructure and developments. Coastal zones encompass two-thirds of Maryland’s land area and are home to almost 70% of Maryland’s residents [5]. Without reductions in greenhouse gas (GHG) emissions, the costs of maintaining, replacing, and repairing roads on Eastern Shore is projected to increase [9]. In the Northeast U.S. these costs for roads alone are projected to be over $1 billion by 2100 [9]. The Mid-Atlantic is one of the most vulnerable regions of the U.S. to climate change, with 76% (over 20,000) of bridges at risk by 2100 [9].
However, mitigation can significantly reduce these adaptation costs.
The largest economic impact of climate change for Maryland will be on its coastal infrastructure and developments. Coastal zones encompass two-thirds of Maryland’s land area and are home to almost 70% of Maryland’s residents [5]. Without reductions in greenhouse gas (GHG) emissions, the costs of maintaining, replacing, and repairing roads on Eastern Shore is projected to increase [9]. In the Northeast U.S. these costs for roads alone are projected to be over $1 billion by 2100 [9]. The Mid-Atlantic is one of the most vulnerable regions of the U.S. to climate change, with 76% (over 20,000) of bridges at risk by 2100 [9].
However, mitigation can significantly reduce these adaptation costs.
- Through mitigation efforts, adaptation costs in the region are reduced by as much as $57 billion through 2100 [9].
- Mitigation efforts also reduce the number of vulnerable bridges in the region to 35% [9].
- However, "in the Northeast U.S., mitigation efforts limit projected road maintenance costs to between $100 and $250 million" [9].
AGRICULTURE
The Delmarva Peninsula is widely known for its poultry industry and has the 7th highest amount of broilers and other chickens in the nation [1]. The costs of doing agricultural business will increase as climate change does, as more labor is required to monitor crops and livestock and as hardware modifications are required to adapt to changing heat and precipitation patterns. As a result, these higher costs of production will impact the price of agricultural products [1]. |
Climate induced price impacts of agricultural business on Delmarva are dramatic: |
To find out more about local economic impacts of climate change, click on the buttons to the right:
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jobs
"In the electric power generation industry, more people in the U.S. as of 2016 are employed by the solar industry than by gas, coal, and oil combined" [2, 5].
Many people aren't aware, but there is already a green energy industry in Wicomico County. Click on the button below to find out more about the local movement towards renewable energy!
Many people aren't aware, but there is already a green energy industry in Wicomico County. Click on the button below to find out more about the local movement towards renewable energy!
Renewable energy
Renewable Energy
Click on tabs below for more detailed economic information on three different sources of renewable energy: wind, hydrologic (water), and solar (sun).
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WIND POWER
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HYDRO POWER
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SOLAR POWER
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There are a few different ways to harness hydrologic power: in-stream hydropower, oceanic hydropower, and dams
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Rooftop Solar Photovoltaics (PV):
Concentrated Solar Power (CSP):
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Solar Farms:
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"At current cost, a $500 billion investment in distributed energy systems would save U.S. businesses and households $4 trillion in peak-demand utility billing over the next 30 years.”
Click on the button below to find out about existing local projects in Wicomico County and investing in green energy!
INFRASTRUCTURE CHANGES
"The use and sustainability of transportation [and energy] cannot be separated from how and where people live, work, and play " [2].
The following bullet points detail benefits from changing a large scale infrastructure system in the U.S.:
Energy storage:
Energy storage:
- As economies shift to variable energy sources, such as wind and solar, increased ability to store energy in the power grid is essential. While the production of energy storage does not reduce emissions, it enables the adoption of wind and solar energy [2].
- In order for renewable energy sources to grow beyond a 25% share of generation, there must be grid flexibility. "The emissions reductions and economic benefits from this solution are counted in the variable renewable solutions that could not reach their full potential without it" [2].
Click on the button below to find out how to decrease the carbon impact of transportation in Wicomico County!
As mentioned previously, the economic impacts of climate change are inseparable from other physical changes and consequences.
Click on the links below to find out how each area is affected:
Click on the links below to find out how each area is affected:
References
- Maryland Department of Energy. (2011). Maryland’s Plan to Reduce Greenhouse Gas Emissions. Retrieved from http://mde.maryland.gov/programs/Air/ClimateChange/Documents/2011%20Draft%20Plan/F_Cost_of_Inaction.pdf
- Hawken, P. (Ed.). (2017). Drawdown: The Most Comprehensive Plan Ever Proposed to Reverse Global Warming. New York: Penguin Books.
- Project Drawdown. (n.d.). Errata. Retrieved from http://www.drawdown.org/errata
- Maryland Commission on Climate Change. (2016). 2016 Annual Report. Retrieved from http://www.mde.state.md.us/programs/Marylander/Documents/MCCC/Publications/2016Report/MCCC_2016_final.pdf
- Maryland Department of Natural Resources. (2011). Chesapeake & Coastal Program- Maryland’s coastal zone. Retrieved from http://www.dnr.state.md.us/ccp/where_we_work.asp
- U.S. EPA. (1998). Climate Change and Maryland (236-F-98-0071). Washington, DC.
- Maryland Commission on Climate Change. (2008) Climate Action Plan: Interim Report to the Governor and the Maryland General Assembly. Retrieved from: http://www.mde.state.md.us/assets/document/air/Interim_Climate_Action_Plan.pdf
- Wu, S.-Y., Najjar, R., & Siewert, J. (2008). Potential impacts of sea-level rise on the Mid- and Upper-Atlantic Region of the United States. Climatic Change, 95(1-2).
- Markle, T. (2015). Climate Change: Cost of Inaction for Maryland's Economy. Retrieved from https://www.c2es.org/site/assets/uploads/2015/11/climate-change-cost-inaction-marylands-economy.pdf
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