Renewable Energy Sector is the Fastest Job Creator in the Country | Financial Buzz

Renewable Energy Sector is the Fastest Job Creator in the Country

Despite the aggressive rhetoric of the new presidential administration against green energy causes, experts are not worried about the future of the green energy market. According to data provided in a research conducted by the Environmental Defense Fund’s (EDF) Climate Corps, the solar and wind industries are each creating new jobs 12 times faster than the rest of the U.S economy. Overall, renewable energy jobs in the U.S. have grown at a compound annual growth rate (CAGR) of 6% since 2012, rising to 769,000 in 2015.

The report indicates that, “America’s transition into an environmentally sustainable economy has been accelerated by investments in workforce development made by corporations, philanthropic foundations, and non-profit organizations.”

Not only is the renewable energy economy creating jobs faster than the fossil fuel industry, it also creates more jobs per dollar invested. For example, researchers at the University of Massachusetts Amherst estimate that investments in renewable energy generate roughly three times more direct and indirect jobs than comparable investments in fossil fuels. The report claims.

The renewable energy economy spans a wide variety of job types and is distributed throughout all 50 states. In the solar energy sector, 80% of jobs are demand-side services, most of which are inherently local jobs that cannot be outsourced. Wind industry jobs are divided more evenly among three primary activities—manufacturing (21,000 jobs); project development, transportation and installation (38,000 jobs); and operations and maintenance (29,000 jobs).  While wind and solar resources and policy environments vary across the U.S., most states boast a strong job market for at least one of these leading technologies.