Two new studies find that clean-energy legislation has great potential to create jobs and decrease energy bills, particularly with significant investments in energy-efficiency.
According to a new report from the American Council for an Energy-Efficient Economy (ACEEE), "the greater the level of energy-saving investments, the greater the economic benefits for Americans."
The report, Climate Change Policy as an Economic Redevelopment Opportunity: The Role of Productive Investments in Mitigating Greenhouse Gas Emissions, explores the effects of several different levels of legislation, including the current version of the clean-energy bill passed by the House of Representatives (the American Clean Energy and Security Act, or ACES):
- With no legislation, energy bills would increase 46% by 2030.
- With ACES in place, net energy spending would decrease $354 per household by 2030 and create approximately 425,000 jobs.
- An enhanced ACES that doubled the amount of investment currently allotted to energy efficiency in the bill would produce a 27% percent reduction in energy costs by 2030 and create an extra 1 million jobs.
Another study, by David Roland-Holst of the University of California at Berkeley, breaks down the impact of climate legislation state-by-state.
Clean Energy and Climate Policy for U.S. Growth and Job Creation finds that every state would benefit economically, but the heartland states would benefit the most since "more carbon dependent economies have more to gain from climate action."
Specifically, 918,000 to 1.9 million jobs could be created between 2010 and 2020, many of them stemming from the ripple-down effect of increased energy savings not taken into account in other studies.
These findings support the Green Prosperity report from Green For All and NRDC earlier this year. In this report, researchers from the Political Economy Research Institute found that $150 billion in clean energy investments would create 1.7 million jobs.
These studies come as the Senate is crafting clean-energy legislation that can shape the U.S.'s future energy economy, and potentially create hundreds of thousands of jobs. A key provision to legislation could create up to 1 million jobs, by requiring electric utilities to make energy efficiency investments.
As our Senators write legislation, they should make far-sighted investments in energy efficiency that would create more jobs for more Americans.
Please visit ACEEE to learn more about Climate Change Policy as an Economic Redevelopment Opportunity: The Role of Productive Investments in Mitigating Greenhouse Gas Emissions.