Continuing on a business-as-usual energy path risks greater economic insecurity, while aggressive acceleration of clean energy assures faster and more sustained economic growth, according to a new study by researchers at the University of California, Berkeley.
The report examines the economic impacts of different energy pathways for California. Relying on renewable sources for 50 percent of California's electric power, combined with increasing energy efficiency by 1.5% a year, will generate half a million new jobs, with over $100 billion in cumulative payrolls over the next 40 years, the report says.
‘Energy Pathways for the California Economy’ is authored by UC Berkeley professor David Roland-Holst and his team of researchers from the Department of Agricultural & Resource Economics, and funded by Next 10, a nonpartisan nonprofit organization. This study evaluates the state's energy demand and supply horizons, and models the economic impact of accelerating renewable energy deployment and energy efficiency trends.
Using the Berkeley Energy and Resources (BEAR) model, an economy-wide forecasting tool, the study analyzes five new energy scenarios and tracks complex market interactions across key elements of the California economy. The five scenarios tracked by BEAR include three degrees of renewable portfolio standards (20%, 33% and 50%) and new energy efficiency improvements (1.0% and 1.5% annually).
The full report is available at www.next10.org or http://are.berkeley.edu/~dwrh/CERES_Web/index.html.