"The clean energy economy is poised for explosive growth" according to a
recent report by The Pew Charitable Trusts.
Between 1998 and 2007, the number of American jobs in the clean energy economy grew nearly two and a half times faster than traditional jobs. This outperformance of clean energy job growth over traditional jobs held true at both the national level, and also at the state level.
By 2007, nationwide, clean energy jobs comprised about 770,000 jobs in more than 68,200 businesses.
These emerging clean energy jobs were dwarfed by those in the fossil-fuel industry—including utilities, coal mining, oil and gas extraction—which employed about 1.27 million workers in 2007. However, between 1998 and 2007, the government gave very little support to the emerging clean energy economy, while heavily subsidizing the fossil fuel industry—over $39 billion in 2006 for oil, and another $8 billion in 2006 for coal.
Researchers defined a clean energy economy as creating “jobs, businesses and investments while expanding clean energy production, increasing energy efficiency, reducing greenhouse gas emissions, waste and pollution, and conserving water and other natural resources.”
This steep growth in a clean energy economy will continue to be driven by increasing consumer demand, venture capital investments, and federal and state policy reforms. In 2008 alone, $5.9 billion of private monies was invested into American clean energy businesses, a 48 percent increase over 2007 investment totals.
Federal and state level policies include the close-to $85 billion in Federal economic stimulus funds (in spending and tax breaks) for energy and transportation sector programs. In addition, states offer tax incentives for residents and businesses for energy efficiency, renewable energy equipment, and many states require that a minimum percentage of power generation come from renewable energy—what’s known as a renewable portfolio standard (RPS).
American consumers, workers, investors, businesses, and government can all agree on the benefits of the clean-energy economy—job creation, economic and public health, energy independence, and environmental sustainability.
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