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Clean Energy Markets: Jobs and Opportunities

In: Business and Management

Submitted By jancs035
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In Brief: Clean Energy Markets: Jobs and Opportunities

April 2010 Update

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In Brief: Clean Energy Markets: Jobs and Opportunities

Executive Summary This brief discusses how investment in clean energy technologies will generate economic growth and create new jobs in the United States and around the globe. The United States stands to benefit from the expansion of global clean energy markets, but only if it moves quickly to support domestic demand for and production of clean energy technologies through well-designed policy that enhances the competitiveness of U.S. firms. Clean energy markets are already substantial in scope and growing fast. Between 2004 and 2007, global investments in renewable energy more than doubled. Forecasts of investment totals over the next few decades vary according to assumptions made regarding the nature of future global climate agreements. Annual investments in global renewable energy markets could reach $106-$230 billion a year in 2020 and as much as $424 billion a year in 2030 (in year 2000 dollars). Over the next decade, assuming strong global action on climate change, cumulative global investment totals for clean power generation technologies could reach nearly $2.2 trillion. Recognizing the potential of these markets, China, Europe, and other nations are moving to cultivate their own clean energy industries and position them to gain large market shares in the decades ahead. In 2009, China invested more money in clean energy technologies than the United States for the first time, and Europe continued to lead the world in clean energy investments, spending over $41 billion. Nearly 90 percent of today’s market for clean energy technologies is outside of the United States, primarily in Asia and Europe. China now boasts the world’s largest solar panel manufacturing industry – which exports about 95 percent of its...

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