A joint report details how a federal stimulus focusing on clean energy can create millions of jobs and restart America’s economy.
The coronavirus (COVID-19) pandemic has caused millions of Americans—including as many as 620,500 clean energy workers—to lose their jobs over just a few months. E2 and E4TheFuture partnered with BW Research Partnership on this economic impact assessment to demonstrate the potential for creating jobs from federal stimulus investments in three major sectors of the clean energy economy: Energy Efficiency, Renewable Energy, and Grid Modernization.
Their report calculates the first five years of economic impacts from a $99.2 billion federal clean energy stimulus, and finds that such an investment would create 860,300 full time direct, indirect and induced jobs that will last for at least five years (a total of 4.3 million job-years). A stimulus of this level and the jobs it would create would also generate more than $66 billion in GDP each year for the next five years—resulting in $330 billion in economic activity, more than triple the amount of investment.
E2 (Environmental Entrepreneurs) is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment.
E4theFuture is a nonprofit dedicated to bringing clean, efficient energy home for every American. They work to advance clean, efficient energy solutions for residential customers.