Three universities have recently concluded in a comprehensive study that renewable energy policies could lead to a wealth of new employment opportunities in the near future. The study has also found that new energy policies will increase consumer income and have a positive effect on the U.S. economy.
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 some encouraging estimates. Among them, as many as 1.9 million new jobs could be created across the country within the renewable energy sector, and an estimated $1,175 increase in annual household income. Additionally, the Gross Domestic Product could register a rise of $111 billion by 2020.
However, the report doesn’t offer any guarantees, either. The figures are merely estimates that hinge largely on a number of variables that are unlikely to be realized within the next decade. Among the uncertain factors at play, the idea that energy companies will have 20% of their power generated from renewable energy sources by 2020, and the assumption that the carbon emissions cap and trade system will be fully instituted. The study also assumes that billions will be invested in the research and development of ‘cleantech’ technologies.
If President Obama stays the course, he could realistically be on the way to fulfilling his commitment to create five million jobs on a green platform over the next decade. If the energy companies can be anywhere near the 20 percent renewable sources at that point, and if the climate bill will be approved to establish the carbon emissions cap and trade systems soon, millions of people across all 50 states will benefit greatly even before the target date of 2020.
“It is essential for us to take full advantage of the opportunity that renewable energy currently provides to us. To have the ability to improve the current job economy while simultaneously improving the health of our environment is highly motivating.” Mouli Cohen
View a previously written post by Mouli Cohen about Solar Power
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