In the six months since President Joe Biden’s landmark climate bill became law last August, clean energy companies have announced more than 100,000 new jobs for electricians, mechanics, technicians, and other workers required to accelerate the country's abandonment of fossil fuels.
The finding comes from a new report by the environmental group Climate Power, which tracked announcements from the private sector made between the passage of the Inflation Reduction Act in mid-August last year, and the end of January this year. Its analysis shows that nearly 100 new clean energy projects have been initiated across the US, involving nearly $90 billion in new investments. And this is just in the first six months, and just in the private sector.
The U.S. is “at the precipice of a renewed manufacturing, made in America boom that will create opportunities for millions of Americans,” Climate Power’s executive director, Lori Lodes, said in a statement.
Many of the new jobs identified by Climate Power are in the burgeoning EV market and the batteries needed to power them. Other projects funnel billions of dollars into new and expanded facilities to manufacture solar panels and wind turbines or to make green hydrogen - all requiring an ever expanding labour force.
Climate Power attributes the boom in part to the extraordinary amount of tax incentives created by the Inflation Reduction Act. The group says the law represents “groundbreaking action” that will not only create jobs in renewable energy, but also help families save money and protect public health. It's a win win whatever way you look at it.
By cutting air pollution, the law is projected to prevent up to 3,900 premature deaths and as many as 100,000 asthma attacks annually by 2030. Better yet, clean energy tax credits in the law are expected to shave some $1,800 a year off households’ energy costs.