NRDC Issue Paper August 2010 A Clean Energy Economy for North Dakota
The Clean Energy Economy
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Transcript of The Clean Energy Economy
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The Clean Energy Economy
The United States and its Position in a Competitive, Global Marketplace
Phyllis CuttinoDirector
Climate and Energy ProgramsPew Environment Group
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• the first-of-its-kind hard count of the jobs, businesses and investments in the U.S. Clean Energy Economy
• the first-ever state-by-state analysis of the Clean
Energy Economy over time (1998-2007)
• offered a clear definition and framework on the Clean Energy Economy
Pew’s Clean Energy Economy study was…
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Defining the Clean Energy EconomyWhat is a Green Job?
• While clean energy jobs and businesses will change over time, these specific categories will not.
• Categories provide a framework and allow for innovation in the clean energy sector.
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• Job growth in the clean energy economy outperformed overall job growth in 38 states and the District of Columbia between 1998 and 2007.
• Jobs include engineers, plumbers, construction workers, machine setters, teachers and others with annual incomes ranging from $21,000 to $110,000.
• In 2007, there were over 770,000 jobs in the clean energy economy
Clean Energy Jobs in the United States
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Who’s Winning the Clean Energy Race?Growth, Competition, and Opportunity in the World’s Largest Economies
• How was the sector faring in the face of the economic downturn? Effect of stimulus funds?
• How were countries competing?
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• tracks overall clean energy finance and investment for every G-20 member country
• offers competitive snapshots of the clean energy
economy in each of the G-20 member countries
• highlights certain domestic policies that are successful in spurring clean energy growth
Pew’s G-20 Clean Energy Factbook…
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Growth in the Clean Energy Economy
• 90% of investments occur in G-20 member economies.
• Globally clean energy investment has grown 230% since 2005.
• $162 billion was invested in 2009.
• An average of $32 billion invested in each of the last three quarters.
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Measuring Competition
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Measuring Competition
Investment intensity is clean energy investment as a percentage of a nation’s gross domestic product (GDP).
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Measuring Competition
• Total global renewable energy capacity at the end of 2009 was 250 GW.
• The U.S. led in installed wind, biomass, and geothermal, but very close to losing this lead to China.
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Measuring Competition
The U.S was the undisputed leader in innovation, with 60% of global venture capital investments. This trend is likely to continue as U.S. has been an engine of energy technology innovation.
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Global Stimulus Funding for Clean Energy
• An estimated $184 billion was earmarked for clean energy by the various government stimulus packages.
• U.S. led with $66 billion and China was second with $47 billion.
• Two-thirds of financial recovery funding is projected to be spent in 2010 and 2011.
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Countries Leading the G-20 Have Enacted Multiple Clean Energy Policies
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Policy and the U.S. Clean Energy Economy
• The U.S. has a patchwork of state renewable energy standards and no national carbon policy.
• Federal financial support to the sector has been episodic and short-term, up one administration, down the next.
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The U.S. Is At A CrossroadsPredictable policy instruments are needed• The U.S. is going to be left
behind in the global clean energy race unless sufficient policy is implemented.
• A national carbon cap, strong RES and predictable financial incentives would provide long-term market security to clean energy investors.
• Comprehensive federal legislation would create new technologies that could be exported to meet global demand.
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Opportunity in the Global Clean Energy Economy
• Projected 25% growth in the sector this year – to a record $200 billion by the end of 2010.
• 80% of future energy demand will come from developing countries.
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Opportunity in the Clean Energy Economy
The International Energy Association estimates that $38 trillion will be needed globally between now and 2030 to meet demand and C02 goals.
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What They’re Saying About the Clean Energy Economy
• “Right now, the United States has no long-term market signal to tell companies and consumers that it values low-carbon energy. It has no policies to discourage sending hundreds of billions of dollars a year overseas for energy. It does not offer adequate sustained R&D funding to be a serious competitor in this huge business.”
- John Doerr, venture capitalist
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