Florida is renowned for its beauty and natural resources. The data is clear: our changing climate is already impacting communities in Florida and creating severe economic problems for residents. The Environmental Defense Fund advocates for pragmatic and science-based solutions to reduce risk and affordability issues facing Florida families and businesses including unaffordable insurance costs, soaring electricity rates, and extreme weather that threaten agriculture and tourism.
RISK IS COSTLY
The risk cost across Florida is significant. Over 1.8 million Florida homes have a substantial risk of flooding today. This figure could increase by 20% in the next 30 years, with taxpayers withstanding the worst of growing disaster recovery costs. With 1,350 miles (about half the width of the United States) of coastline, Florida has the highest coastal storm risk in the country and over 50% of the insured hurricane risk.(1)
Florida’s coastlines are not the only areas at risk. Florida has grown dangerously overdependent on a single energy source: natural gas. In fact, natural gas makes up 75% of the energy Florida uses to power schools, homes, and businesses. By prioritizing energy efficiency and diversifying energy sources, Florida can better protect businesses and residents from unpredictable and burdensome energy costs while seizing the opportunity to harness abundant solar resources.
- In 2023, the volatile natural gas market left Floridians experiencing the brunt of 57% increases in fuel costs on their power bills.(2)
Florida has a wide array of tools at its disposal to reduce risk. To meet future demand, Florida needs diverse and reliable energy resources, robust investments in resilience and a talent pipeline that can meet changing transportation needs.
GREEN & GREY INFRASTRUCTURE
Every dollar invested in building resilient communities and infrastructure saves $13 in disaster recovery cost and economic impact.(3) Florida’s recent hurricanes reinforce that nature-based features like mangroves, reefs, and wetlands can provide high-value protections and build resilience while being less expensive and providing better value for money than traditional grey infrastructure practices that fill the same need. When we integrate these solutions, pairing raised walkways with wetland planting, marsh and mangroves with breakwaters, or dunes with reinforced cores, we create multiple lines of defense. Florida’s robust history of land acquisition provides a model for identifying community assets that could be leveraged to reduce hazard risks, while also improving habitat and retaining Florida’s character and coastline.
ENERGY CHOICE & SECURITY
Florida’s rural communities face especially high electric costs. More than 75% of Florida’s energy supply is dependent on imported natural gas, which costs more than $5 billion annually and puts families and businesses at risk of volatile global natural gas market prices. The Sunshine State has untapped potential for renewable solar energy production, which is now 15% more cost effective than natural gas and carries no additional fuel costs. Moreover, global developments, federal policy shifts, and interstate grid integration reforms mean renewable energy will provide the pathway to improved reliability and lower-cost clean power supplies.
FUTURE READY WORKFORCE
To reduce the risk of infrastructure inefficiencies, workforce displacement, and loss of economic competitiveness, Florida must prioritize workforce readiness, adaptation, and innovation. This year, Florida’s trade, transportation, and utilities added more than 21,500 jobs. Florida could secure a competitive edge in economic development by modernizing ports and prioritizing emerging job skills. Florida is already #2 in the nation for electric vehicles. That number is expected to grow 1,000% by 2030 according to Florida Power & Light. To ensure Florida can compete with neighboring states, we need a skilled workforce that can keep pace with growth and integrate emerging technologies to bring these investments to the state.
- Recent Polling Data: 86.6% of respondents support energy diversification.
THE BOTTOM LINE
Florida has a bright future ahead. Smart decisions today will ensure the Sunshine State can stay ahead of the curve in a changing market and environmental conditions. Smart, science-based policies and planning will keep Florida clean, safe, and affordable.
MEET THE AUTHOR | Dawn Shirreffs
As the Environmental Defense Fund’s Florida Director, Dawn works to develop science-based and pragmatic policy solutions to make Florida cleaner, safer, and more affordable for current and future generations.
(1) First Street Foundation, First National Flood Risk Assessment, accessed December 20, 2024, https://assets.riskfactor.com/media/first_street_foundation first_national_flood_risk_assessment.pdf.
(2) U.S. Energy Information Administration, “Natural Gas Prices: Florida Residential Prices, Monthly,” accessed December 20, 2024, https://www.eia.gov/dnav/ng/hist/n3010fl3m.htm.
(3) U.S. Chamber of Commerce, The Preparedness Payoff: The Economic Benefits of Investing in Climate Resilience, accessed December 20, 2024, https://www.uschamber.com/security/thepreparedness-payoff-the-economic-benefits-of-investing-in-climate-resilience.