Alternative Energy Companies Still Showing Promise
Amidst some of the bleakest financial doldrums our nation has faced in decades, as many Americans have to face the indignity of a pink slip, one industry still shows promise. That industry is alternative energy, and it is the wave of the future both economically and technologically. To ensure the industry meets that promise, it will need substantial manpower to develop the viability of these alternative energy companies. That means jobs, and lots of them. The current administration has made the development of jobs for these alternative energy companies its top priority.
President Obama announced more than $20 billion for investment in a more sustainable and greener economy. A White House report concluded that substantial investment in alternative energy companies would help to create tens of thousands of high-quality green jobs in the near future. Estimates for further down the line are even more promising. One analysis posited that an economy that shifts to generating 40 percent of its electricity from wind, solar, biomass, and other sources of alternative energy would create 4.2 million green jobs by 2038. Yet another analysis found that a $500 billion investment in alternative energy companies over the next 10 years would create 5 million green-collar jobs.
The involvement of the administration in developing the green job market is clearly working. Wind and solar energy underwent substantial expansion last year. According to the American Wind Energy Association, 2008 saw the wind energy industry surpassing all expectations with a 50% increase in generating power and $17 billion injected in to the economy. Investment in alternative energy companies is a sensible and sustainable way to inject much-needed capital in to our faltering economy.
Tags: Alternative Energy, Alternative Energy Companies, alternative energy jobs