Based on analysis report by-The Pew Charitable Trust Presentation By – Swapnil Gore MS Student Stony Brook University, NY firstname.lastname@example.org
Pew’s Approachfor Analyzing Clean Energy Economy of USIt would provide a clear, practical and consistent framework for federal, state andlocal policy makers and the private sector to track investments, job and businesscreation, and growth over time.
Definition“A clean energy economy generates jobs,businesses and investments whileexpanding clean energy production,increasing energy efficiency, reducinggreenhouse gas emissions, waste andpollution, and conserving water & other Major Goals Achieved:natural growth Economic resources” Environment Sustainability
Categorization: Reducing and Improving our Building sustainable managing our products and energy for the future energy demand processes Energy Environmentally Clean Energy Efficiency Friendly Production Human resource Recycling and development & remediating waste Efficient implementation Conservation Training and and Pollution Support Mitigation
Growth Factors International Attractive Depletion of Increased Economic New Climate Change Policy Support Fossil Fuels Awareness mechanisms Investment Initiatives MarketRPS Climate Change Global Warming Carbon trading SolarEfficiency Stds. Price Mitigation Action Green Curriculum REC WindFIT Plans and Workshops BioenergyIncentives Reserves Agreements Eco-developmentConcession Loans Programs Clean Energy Economy Development
US Clean Energy Sector State Initiatives Federal Initiatives Every state has the piece of the clean energy American Recovery and Reinvestment Act economy (ARRA), which allocates nearly $85 billion in Every state offers some Financial Incentive to direct spending and tax incentives for energy- drive its clean energy economy and transportation-related programs. RPS- 29 states and the District of Columbia have EPA’s Energy Star and Water Sense adopted RPS ranging from 10% to 25% certification and labeling initiatives Energy Efficiency Standards established by 19 The Energy Independence and Security Act- states expected to save 1.1 million barrels of Regional clean energy initiatives- oil/day, save consumers $25 billion at the MGGRA, RGGI, WCI, etc. pump and achieve huge reductions in GHG emissions Vehicle emissions standards Tax Incentives by 45 states
American Recovery and Reinvestment Act (ARRA) The federal stimulus bill enacted in February 2009 includes an array of provisions to spur clean energy generation and energy efficiency businesses, jobs and investments. The program would apply to electric utilities, oil companies and other entities that produce more than 25,000 tons of carbon dioxide each year. A total of $84.8 billion has been set aside for energy- and transportation- related spending. Tax Credits for RE & Energy Efficiency,ARRA- Distribution of Energy & $19.6 billion Transport related spending Transportation Spending, $18.4 billion Energy Efficiency, $16.4 billion Grid Strengthening, $11 billion Clean Energy Generation, $6 billion Other (Research, Training, etc.), $13.2 billion 0 10 20 30 Amount in Billions
Businesses & Jobs Jobs and businesses in the emerging clean energy economy have grown at a faster rate than U.S. jobs overall. By 2007, more than 68,200 businesses across all 50 states and the District of Columbia accounted for about 770,000 jobs Overall jobs growth between 1998 to 2007:
Job Market 67% Training and Support Environmentally 6.8% Job Growth from 1998 to 2007 Friendly Production 7.0% 23% Energy 18% Efficiency 9.5% TODAY 3%TOMORROW -0.30% Conservation & Clean Energy Pollution 11.6% Mitigation 65.1% Jobs in the Clean Energy Economy, 2007 The number of jobs and businesses in Clean Energy and Energy Efficiency will grow over time—and as the country increases the amount of power it draws from renewable sources, we will generate less waste, reduce our reliance on foreign oil and produce fewer carbon emissions that cause global warming. Nearly six out of 10 jobs in this sector fall specifically in the area of energy generation, which includes jobs responsible for producing clean forms of energy such as wind, solar, geothermal, low-impact hydro, hydrogen, marine and tidal, and small-scale bio power.
Job Sectors • Energy Generation (Solar, Wind, Biomass, etc.) Clean Energy • Energy Transmission • Energy Storage • Energy conservation Energy • Appliances & Machinery Efficiency • Energy Research Environmentally • Transportation Friendly • Manufacturing/Industrial • Energy Production Production Conservation & • Air and Environment Pollution • Recycling and Waste • Water and Wastewater Mitigation • Business services (Legal, Marketing, etc.) Training & • Finance/Investment (Project finance, Emission trading, etc.) Transport • Research and Advocacy
Patents & Venture Capital Investments Today’s research and venture capital spending will generate tomorrow’s clean energy opportunities. Patent registration statistics- helps track the future technologies During the past 10 years, clean technology patents have been registered across eight different areas of technology development. Majority of all clean technology patents have been registered in energy storage technologies, including batteries, fuel cells and hybrid systems. 1% 4% 1% Batteries 5% Fuel Cells 9% Hybrid Systems Clean 8% Technology 47% Solar Patents, 1999 Wind to 2008 Energy Infrastructure Geothermal 25% Hydro
Investments Between 2006 to 2008 – total venture capital investment around $12.6 billion; with an annual average increase of $1.5 billion 2011- venture capital investments in U.S. clean tech companies jumped 73% to $1.1 billion in the third quarter of this year compared to the same time last year.100% Clean Energy $8.73 billion 69%80%60% Environmentally40% Friendly Production Conservation & $1.82 billion Pollution Mitigation Energy Efficiency 14% $1.08 billion $943.1 million20% 9% 8% 0% Clean Venture Capital Investments, 2006-2008
State-wise Economy States with fast-growing clean energy economies experienced average annualgrowth between 1998 and 2007 that exceeded the national average of 1.9 percent.
Earth receives around 174 Petawatts of energy from sun and only a small part ofit is sufficient to meet the annual world electricity consumption of 20 Trillion kWh We Just need to tap this potential Thank You Thank You Presentation By – Swapnil Gore MS Student Stony Brook University, NY 5/16/2011 email@example.com