Green Jobs Growing in U.S., Kentucky
Kentucky had more than 9,000 "clean energy jobs" in 2007, a new report by the Pew Charitable Trust found. Kentucky also had a clean energy job growth rate nearly triple the overall state job rate growth rate for the 10-year period 1998-2007.
Pew said it counted actual jobs rather than making estimates — from companies and investments aimed at developing clean, renewable sources of energy, increasing energy efficiency, reducing greenhouse gas emissions that cause global warming, and conserving water and other natural resources.
"We found that jobs and businesses in the emerging clean energy economy have grown at a faster rate than U.S. jobs overall," the report stated. "And they are poised for even greater growth, driven by increasing consumer demand, venture capital infusions by investors eager to capitalize on new market opportunities, and policy reforms by federal and state lawmakers seeking to spur America’s fiscal recovery, reduce our dependence on foreign oil and protect the environment.
During the study period, Kentucky's clean energy growth rate was 10% compared to 3.6% for our overall job growth rate. Both these figures are fairly close to national averages, though the clean energy jobs growth rate varied dramatically from state to state (especially high in some midwestern states).
The actual number of clean energy jobs in Kentucky in 2007 was 9,308.
While Kentucky's job numbers stacked up to national averages, of the $12.5 billion in venture capital investment in clean energy during this period, 0 of that investment was in Kentucky.
Kentucky's clean energy economy should continue to grow. Since the 2007 ending date of the Pew study, Kentucky has passed legislation that provides resources for energy efficiency improvements at publicly owned building, has established a public-private consortium to research new battery technology, has new renewable energy centers at the University of Louisville and Eastern Kentucky University, and is spendings most of the $120 million in federal stimulus funds designated for energy on weatherization and efficiency projects. There are many private efforts underway as well.
You can read more or download the report here.
Article "Where are the Green Jobs "
I ran across a good article that breaks down what a green job actually is.
Todd
Thanks for the "Green Jobs"
So what about Kentucky?
First from the MACED report released today there are "17,903 people employed in mining and 52,429 people in jobs that depend on mining" - this shows the multiplier effect of job creation.
Let's talk about making a 20 year transition from coal. Why twenty years? Because twenty years allows those exiting coal related workers to remain working, provides for re-training and for the next generation to move into new "green' jobs.
From an Apollo Alliance report: Investing in energy efficiency and renewable energy could affect Kentucky’s economy over 10 years with:
o An additional $2.8 billion of economic activity.
o 44,783 new jobs created, including 13,085 manufacturing jobs and 5,277 construction jobs.
o $1.8 billion of increased income for Kentucky citizens.
o That translates to an investment of just over $9000 per job.
Based on those figures, if Kentucky were to invest $43 million per year over the next twenty years we could transition those 70,00 coal related jobs into other employment.
A Center for American Progress study is less optimistic. It says that wea $1 million investment in efficiency and renewables will create about 17 new jobs ( versus 5 for fossil fuel based jobs). Accordingly Kentucky would have to spend $205 million per year for coal job replacement.
Again from the MACED report, if we are already subsidizing the coal industry at $115 million per year we can easily make the transition.
In reality though we will never stop mining coal because we need coal for things other than electricity, like making steel.
Regarding your first question about entrepreneurs, private enterprise and energy. Those three are most important to making it all happen and the primary motivator will not be to save the planet but to create a quality of life, which includes making money. But it is really hard and discouraging when there is not a level playing field in the energy field. Government has a role and KFTC is working to change the policies that can make it all happen. Martin
Green Energy Investments
Reading the article and report brought up a point I wanted to bring up for discussion. Outside of government investment what does KFTC think of entrepreneurs who invest in green energy? I often read about anti-coal groups who complain about the amount of money coal companies make. With that in mind, do you think everyone that invests in green energy jobs will do so solely to save the planet? In my opinion, I believe most, if not all, private investors will invest simply to make money. In your view, how do you feel about that?
Todd