Very interesting results emerging around the ‘green economy’ in the US…
Institutions have been publishing reports on data collected to investigate how the workforce is changing. Studies show the US industry is leading the way with the green economy now worth $1.3 trillion.
The renewable energy sector is growing and with that there is a huge need for employment within the industry!
In the long term, ‘greening’ of the labour market will require the shift to jobs that are unique to the green economy – representing a wider skill gap and specific training. This is often cause for worry amongst non-renewable workers employed in the traditional fossil fuel industries that are declining.
However, economies and labour markets go through changes all the time and have a proven track record of smoothly transitioning and making the necessary adjustments.
Studies show that 44.3% of the workers already have transferable skills needed to contribute to the green economy – educating people on this could be what is needed to fuel a rapid increase in the workforce to further support the green economy.
It is great to see these changes as people become more engaged and are demanding more from governments, businesses and public and private sectors.
The growth and potential in US renewables is one of the many reasons Hyperion see the value in the US market and are on our way to opening the new US office in 2020.
Economically, investing in these companies that are fight climate change makes sense if the US wish to extend this economic growth. This is exciting news!
If the U.S. wants to extend economic growth, it should double down on cleaning up the environment and fighting climate change, which are fueling both jobs and revenue