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Green Energy Job Creation: Return On Investment Facts
In a detailed assessment of how many actual jobs are created for every $1 million invested in the energy sector Alt Energy Stocks has reviewed the data. Bottom line–green energy 16.7 new jobs to fossil fuel 5.5 jobs. That is three times better return on investment.
Tom Konrad for AltEnergyStocks.com reports:
“The best national report I read was Green Prosperity, which was sponsored by Green for All and NRDC, and written by the economists Robert Pollin, Jeanette Wicks-Lim, and Heidi Garrett-Peltier at the Political Economy Research Institute at the University of Massachusetts, Amherst (PERI). This report used data from the US Commerce Department Input-Output tables and IMPLAN to look at the potential for job creation from each $1M of spending in various industries, some of which is presented below in table 3 from the report:”
Jobs created per $1million in investment:
Weatherization — 17.1
Transit/Rail — 20.8
Smart Grid — 13.3
Wind — 13.8
Solar — 14.1
Biomass — 15.5
Average — 16.7
Fossil Fuel — 5.3