November 09, 2015

Our Clean Energy Future

The study finds that deep decarbonization of the US economy has a net positive impact on the overall economy in terms of jobs, GDP, and income per household. Under different scenarios, the economy could add more than a million jobs by 2030 and up to 2 million jobs by 2050. Certain economic sectors are likely to be big beneficiaries of these job gains, including construction and the manufacturing sectors that are likely to contribute the parts, equipment, and final goods for the technologies of deep decarbonization. While the overall economic benefits outweigh the costs, some sectors and regions, which rely heavily on fossil-fuel based energy and industries, could face job losses due to decarbonization. Regions that face job losses, however, are likely to see increases in disposable income per household, which are estimated to be higher across all regions under these decarbonization scenarios.*

*Updated Nov. 12, 2015