2010
How does renewable energy help our economy?
Many U.S. communities have to import fossil fuels, such as oil and natural gas, to provide electricity, heating, and fuel. The cost of these fossil fuels can add up to billions of dollars. And every dollar spent on energy imports is a dollar that the local economy loses. Renewable energy resources, however, are developed locally. The dollars spent on energy stay at home, creating more jobs and fostering economic growth.
Renewable energy technologies are labor intensive. Jobs evolve directly from the manufacture, design, installation, servicing, and marketing of renewable energy products. Jobs even arise indirectly from businesses that supply renewable energy companies with raw materials, transportation, equipment, and professional services, such as accounting and clerical services.
In turn, the wages and salaries generated from these jobs provide additional income in the local economy. Renewable energy companies also contribute more tax revenue locally than conventional energy sources.
The economic advantages of renewable energy also extend far beyond the local economy. The whole country benefits. In 1997, the United States spent about $65 billion dollars outside the country to pay for fossil fuels. But as one of the world leading manufacturers of renewable energy systems, we can bring in more money with the increased use of renewable energy sources around the world. Currently, for example, the United States manufactures about two-thirds of the world photovoltaic (PV) systems. And it exports about 70% of these PV systems, mostly to developing nations, resulting in annual sales of more than $300 million.
Go to www.solar-estimate.org
