From the Center for American Progress:
This paper examines these broader economic considerations—jobs,
incomes, and economic growth—through the lens of two government
initiatives this year by the Obama administration and Congress. The
first is the set of clean-energy provisions incorporated within the
American Recovery and Reinvestment Act .... The second
is the proposed American Clean Energy and Security Act ...
Our analysis in this paper shows that these two measures operating together can generate roughly $150 billion per year in new clean-energy investments in the United States over the next decade. This estimated $150 billion in new spending annually includes government funding but is notably dominated by private-sector investments. We estimate this sustained expansion in clean-energy investments triggered by the economic stimulus program and the forthcoming American Clean Energy and Security Act can generate a net increase of about 1.7 million jobs. This expansion in job opportunities can continue as long as the economy maintains a commitment to clean-energy investments in the $150 billion per year range.
Dividing $150 billion by 1.7 million gives a green jobs cost estimate of $88,235 per job. Frankly, I'd rather see the benefits of $150 billion in clean energy measured as the value of environmental improvement. If we focus on the macroeconomic effects of government subsidized and mandated clean energy then green jobs are costs to society, not benefits, as they represent a more expensive way of producing goods and services. The benefits of subsidies and mandates should be measured as the value of the (1) improved health, recreation and ecological benefits and (2) climate change mitigation benefits of clean energy.
Hat tip: Green Inc.
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