Does pushing for cleaner energy kill jobs & growth? No, says Google (via Grist’s Stephen Lacey). In fact, waiting will cost us dearly:
Google, a leader of innovation in the digital economy, says that without a private and public focus on innovation in renewables, storage, and electric vehicles, the cost of delaying the clean energy economy could be in the trillions of dollars to the U.S. economy.
Using McKinsey’s macroeconomic tool for modeling energy costs, they found that
by 2030, innovation in the modeled technologies alone could have a transformative impact on the US, adding over $155 billion per year in GDP and 1.1 million net jobs, while reducing household energy costs by $942 per year, oil consumption by 1.1 billion barrels per year, and GHG emissions by 13% relative to BAU. By 2050, annual gains in GDP increase to $600 billion, net additional jobs to 3.9 million, and emissions reductions to 55%.
And if we don’t? Lacey summarizes Google’s findings:
delaying this “innovation arms race” by as little as five years with inconsistent policy that slows private investment (a delay not unlikely in the U.S.) could result in $2.3-$3.2 trillion in unrealized GDP gains — costing the U.S. over a million new jobs and preventing the reduction of up to 28 gigatons of CO2.
One more example of how Stacking the Odds in Favor of the Good Guys pays off.