New Jersey’s Clean Energy Transition Could Generate $34.1 Billion
A new study released by the Applied Economic Clinic states that New Jersey stands to gain an average of $1.3 billion in economic activity by 2050.
This however is if the state accelerates efforts to transition to 100% clean energy, fully electrifies its transportation and building infrastructure, and ensures meaningful job standards are in place.
Although the project is not guaranteed, the study revealed that the transition for the state could generate nearly 300,000 total job-years (one job-year is equivalent to one person working full-time for one year).
“Switching from dirty fossil fuels to renewables, batteries, and electrification will create new, good-paying jobs in New Jersey, including entry-level jobs for new workers in the field,” said study co-author Dr. Elizabeth Stanton, AEC Director and Senior Economist in a press release. “Making these jobs available to the state’s diverse workforce will require public policy to reduce employment barriers, including bias against women and people of color, lack of childcare or transportation, and hiring practices that benefit friends and relatives of people already working in the field.”
According to the non-profit consulting group, shifting to clean energy in New Jersey is necessary and will help prevent frequent and extreme weather events, sea-levels rising, ecosystems, and infrastructure.
Click below to read more.
As New Jersey continues its #cleanenergy transition, new jobs and additional infrastructure benefits will strengthen both the grid and #economy. Other benefits can also be derived based on program development and implementation. Read more: https://t.co/Ty4LRu0pC0
— Applied Economics Clinic (@a_e_clinic) June 8, 2022
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