A NEW ENERGY ECONOMY ADDS MILLIONS IN JOBS, INCOME
Economy Would Gain Two Million New Jobs in Low-Carbon Transition, Study Says; Work created by a transition to clean energy would more than offset the loss of fossil fuel jobs by 2050, researchers say.
Naveena Sadasivam, November 18, 2015 (Inside Climate News)
“Rebuilding the U.S. energy industry to substantially reduce reliance on carbon-based fuels may result in a net gain of 2 million jobs by 2050 while increasing disposable household income, according to [Economic Analysis of US Decarbonization Pathways from ICF International] found that a large-scale shift to renewable sources for generating electricity could increase U.S. employment by 1 million jobs by 2030 and 2 million by 2050, even after accounting for job losses related to fossil fuels. The transition would also provide between $300 and $650 in additional disposable income per household annually in 2050, the report found…The study is the first to model the economy-wide benefits of switching to cleaner fuels…[and echoes] other recent studies that said there would be many times more jobs created from a clean energy transformation than would be lost…The analysis [modelled two specific economic scenarios and four pathways under which the U.S. could take carbon out of its energy mix and] assumed that the transition will include increased energy efficiency, reduced greenhouse gas emissions in the power industry and a switch from internal combustion engines to electric motors in vehicles…” click here for more