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Potential for 1.9 Million Renewable Energy Jobs, posted in Economy, Future Energy, Industry.

Alternative Energy
Alternative Energy

Potential for 1.9 Million Renewable Energy Jobs

News » Energy | Biofuels | Environment | Hydrogen | Solar | Transportation | Wind
November 13th, 2009 - View Comments

Renewable Energy Jobs Three universities of the USA have conducted studies related to renewable sources of energy and it has produced some interesting facts. The first and most important one is that renewable energy policies will lead to employment opportunities. Secondly, it will increase the consumer’s income and thirdly, it will have positive effect on the US economy too. The study Clean Energy & Climate Policy for U.S. Growth and Job Creation: An Economic Assessment of the American Clean Energy & Security Act and the Clean Energy Jobs & American Power Act presents quite an encouraging estimate. According to them as many as 1.9 million new jobs could be created across the United States within the renewable energy sphere. It would also account for an increase in annual household income by US$1,175 per year, and Gross Domestic Product could register a rise of US$111 billion by 2020.

The study indicates clearly, “By aggressively promoting efficiency on the demand side of energy markets, alternative fuel and renewable technology development on the supply side can be combined with carbon pollution reduction to yield economic growth and net job creation. Indeed, a central finding of this research is that the stronger the federal climate policy, the greater the economic reward.”

Ceres, Environmental Entrepreneurs and the Clean Economy Network were responsible for commissioning the study and this study was modeled by collaborative research teams at the University of Illinois, Yale University and the University of California. It is becoming obvious that clean renewable energy policies could generate 78,000 jobs in Pennsylvania, 61,000 in Ohio and 45,000 jobs in Indiana.

The main findings of the study concludes, “All 50 states can gain economically from strong federal energy and climate policy, despite the diversity of their economies and energy mixes. The states may differ on the supply side, but on the demand side they all have substantial opportunities to grow their economies by promoting energy saving and domestic renewable energy alternatives.”

The economic estimation was conducted with the help of EAGLE. EAGLE is a forecasting model and it mainly deals in the long term economic impacts of climate legislation on the economy. The model explains about the economic interactions within and between each of the 50 states. This model also does a comparative study of the impacts of combining a limit on carbon pollution with complementary efficiency and renewable energy policies.

According to the study, most American states would experience the increase in growth rates because adopting alternative sources of energy will help in cutting down the use of fossil fuel and exploitation of more efficient alternative energy sources. The study states, “By shifting to domestic renewable substitutes, the western states can reduce their long term external energy dependence and capture more in-state expenditure multiplier effects.”

The model makes certain assumptions. Electric utilities will be needed to fulfill 20% of their sales through renewable energy by 2020. They are also expecting a cap and trade system for carbon emissions and aggressive energy efficiency standards for new buildings and vehicles. The model also presumes that a “substantial program (in the hundreds of billions of dollars)” will come to effect to support RD&D in clean energy and energy efficient technologies, funded in part through CO2 allowances.

What do you think?

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  • Jon Rennie

    I am always leery when groups commission a study that confirms their beliefs. That being said, this could be good news. I wonder if the 1.9 million jobs are a net gain or have they considered the jobs that will be lost in the carbon producing power industry. Also, this is the first study I have seen that says Cap & Trade will increase household income. This seems counter-intuitive.

  • slaps

    My understanding is that Spain has seen quite contrary results, with each green job costing millions, overall decrease in income, and an overall negative impact on GNP. Still, it does seem like if we could reduce our imported oil bill, it would be a net benefit to the country.

  • Rob Beasley

    Get the prospectus out to the public now, perhaps :-)

  • Douglas Adams

    First time posting to something like this. I figured it’s time to start educating myself. I am in the construction trade, mostly bridge work but I have worked in refineries and auto plants (currently laid off). I for one would be willing to take a pay cut to work on a project that would benefit our world and not just a group of people. And even if global warming isn’t true I think this technology is awesome. Questions: Why haven’t we used this energy (solar, wind, electric vehicles) all along? I seems like we are capable of producing things almost overnight, during the world wars we got everyone together to produce the equipment needed, why don’t we do that now? Is it because too many people who work in the oil industry would lose their jobs? Why aren’t the oil companies starting “green” plants and capitalizing on this opportunity? Off topic questions: Is it possible to make a living off of selling power back to the grid if you had enough excess, or is there a limit? How much power do we need to conserve before the power company slows down their output? Say 100,000 houses don’t use power for a month, would that even affect the amount the power company makes? This is a very exciting time and I have so many more questions and thoughts. I hope this was ok posting this here! Thanks

  • antuan gordon

    This is great news for those who care about the planet and this country’s future, for all other stop your selfish ways.

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