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Clean Energy Investment Can Drive GDP Growth

02/10/16

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The way we generate power to fuel the nation’s electrical work is a hotbed of controversy. Concerned pundits worry that reductions in fossil fuel consumption could be detrimental to job growth and hamstring the American economy. However, other experts argue that increasing our reliance on wind, solar and other renewable energy sources can actually be a driver of economic growth for the foreseeable future. Read on to learn more about the future of the nation’s electricity generation and what it means for you.

Lower Carbon Emissions from the Nation’s Electrical Work

The United States is on a mission to lower its carbon emissions. In an attempt to stem the effects of climate change, the Clean Power Plan aims to cut emissions down to 32 percent below 2005 levels by 2030. Does that spell doom for the American economy? Maybe not. A new report by NextGen American Climate showed that jobs, incomes and economic growth can all benefit from a transition to a greener energy grid in the decades to come.

The NextGen report takes a look at even more ambitious emissions reductions than those promised by the Clean Power Plan. Instead, it bases its analysis on the Pathways to Deep Decarbonization in the United States report by E3, which suggests cutting carbon to 80 percent below 1990 levels by 2050. That’s a lofty goal, but one that could have a big payoff.

Jobs, Income and Energy Savings

Among the benefits that a clean economy could have, the report claims, are two million new jobs, a $290 billion increase in GDP, a $650 boost in household disposable income and a total of $41 billion in savings on energy bills by 2050. Much of that economic activity will come from the growth of renewable energy, as solar power and wind production take on a larger share of power generation for our electrical work.

“This report clearly demonstrates that shifting to clean energy would significantly improve our country’s economy for decades to come and create more well-paying jobs for American families,” said NextGen Climate America founder Tom Steyer said in a statement. “Transitioning to a clean energy future won’t just address the threat of climate change—it will put millions of Americans to work, raise household income and build an economy that works for everyone.”

Prepare for the Future by Saving Energy Today

For consumers, that means new job opportunities and lower energy bills in the future. But you don’t have to wait until 2050 to start saving electricity – there are a number of steps you can take today to bring your consumption under control.

If you need help boosting the efficiency of your electrical work, contact an expert electrician today.



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