The Economic Benefits of Investing in Clean Energy

Source: Robert Pollin, James Heintz, Heidi Garrett-Peltier, Center for American Progress, June 18, 2009

From the summary:
This paper examines these broader economic considerations–jobs, incomes, and economic growth–through the lens of two government initiatives this year by the Obama administration and Congress. The first is the set of clean-energy provisions incorporated within the American Recovery and Reinvestment Act, initiated by the Obama administration and passed into law by Congress in February. The second is the proposed American Clean Energy and Security Act, co-sponsored by Rep. Henry Waxman (D-CA) and Rep. Edward Markey (D-MA), which is now before Congress.

Our analysis in this paper shows that these two measures operating together can generate roughly $150 billion per year in new clean-energy investments in the United States over the next decade. This estimated $150 billion in new spending annually includes government funding but is notably dominated by private-sector investments. We estimate this sustained expansion in clean-energy investments triggered by the economic stimulus program and the forthcoming American Clean Energy and Security Act can generate a net increase of about 1.7 million jobs. This expansion in job opportunities can continue as long as the economy maintains a commitment to clean-energy investments in the $150 billion per year range. If clean-energy investments expand still faster, overall job creation will increase correspondingly.
See also:
– 50 State Fact Sheets: Clean Energy Investment Creates Jobs in Every State
– Interactive Map: A State-by-State Look at Clean Energy and Job Creation

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