Interesting new study showing that new money for schools from wind energy installations did *not* have any clear effects on student outcomes. https://www.edworkingpapers.com/sites/default/files/ai21-352.pdf

Obviously this differs from most other recent research on school spending (eg https://www.chalkbeat.org/2019/8/13/21055545/4-new-studies-bolster-the-case-more-money-for-schools-helps-low-income-students). Here they find that most new spending went toward capital expenditure rather than say paying teachers more or reducing class size.

One interpretation is that capital spending, at least in the districts they studied, is just not a good way to improve student outcomes. Another is that it's harder to measure because capital investments may take longer to manifest in improvements (it takes time to build!).