"By doubling our use of renewable energy to 20 percent, Colorado's gross domestic product will increase by $1.9 billion," Ritter said. "More clean, homegrown energy means more jobs and higher wages paid for Coloradans."

Ritter's comments follow the release of a report titled "Energy for Colorado's Economy" completed by the Environment Colorado Research and Policy Center that shows that an increase in the state's renewable energy would bring more than 4,000 high-paying jobs and more than $570 million in wages paid to the state.

"We have only just begun to tap the potential of a new energy economy," Ritter said. "Continued investment in clean energy helps our state ensure economic prosperity."

The wave of economic activity would come from many areas including an increase in manufacturing, installation and operation of renewable electricity production, the report states.

The impact would be realized by many areas of the state that have fallen on hard economic times, Ritter said, including many rural farms and ranches.

Farmers and ranchers who agree to place wind turbines onto their property would see new opportunities for income that aren't available today.

"When we talk about a turbine on a farm or ranch in Colorado, we're talking about an income of $4,000 to $7,000 per turbine that is located on a ranch and that is economic diversity," said Lee Swenson, executive director of the Rocky Mountain Farmers Union. "That will help in the struggles (farmers and ranchers) face with the livestock and grain prices they face. This is economic opportunity and jobs."

Sen. Bob Bacon, D-Fort Collins, said he is happy to see the state heading in new directions as it considers its place in the alternative energy field.

"There are myriads of opportunity in the renewable energy economy that aren't just wind turbines," Bacon said, adding that with Colorado State University in Fort Collins, the city could be the incubator for new energy technologies.

"The new economy is going to be centered around alternative sources of energy and this is taking Colorado in the right direction."

Rep. John Kefalas, D-Fort Collins, said renewable energy would "help Fort Collins greatly."

"We have a lot of great technology coming out of CSU and that will (help) further the city as a leader in renewable energy."

CSU President Larry Penley was in Denver on Wednesday to sign a collaborative agreement with three other research institutions to bring more federal funding for renewable energy research to Colorado.