NRDC Analysis: Robust Jobs and Clean Energy Growth Boosted by ‘Build Back Better’ Agenda

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WASHINGTON — The Build Back Better program would create hundreds of thousands of well-paying jobs, accelerate clean energy investments and spur economic growth in the United States, according to new NRDC analysis of a dozen key states. The Senate should pass the Build Back Better agenda as soon as possible, so that these substantial climate and economic benefits can spread to states, communities and workers across the country.

“Implementing the Build Back Better program is a much-needed investment in our nation’s future,” said John Bowman, executive director of government affairs at the Natural Resources Defense Council (NRDC). “Already, clean energy is the biggest job creator in our country’s energy sector, employing nearly three times as many workers as the fossil fuel industry. The Build Back Better program provides tax incentives to further stimulate job creation and grow the renewable energy sector, particularly in low-income communities, and support a just transition for communities that depended on income and related jobs to fossil fuels in the past.

For its analysis of the impact of the Build Back Better program, the NRDC analyzed the potential growth of employment in the manufacture, construction and maintenance of clean energy resources; the number of new megawatts of clean energy that would come online; and the impact of additional tax incentives to invest in low-income communities and areas impacted by fossil fuel infrastructure closures, making these communities highly attractive for clean energy investment.

The NRDC has prepared individual fact sheets with specific numbers and examples of jobs created and clean energy investments that would be made from the climate and clean energy provisions of the Build Back Better program . The states analyzed: Arizona, Florida, Georgia, Illinois, Maine, Michigan, Montana, New JerseyOregon, Texas, Virginia, and West Virginia. These are meant to give a picture of the job creation potential in the different states.

The Build Back Better program includes historic investments in clean electricity, including:

  • $150 billion in tax incentives for clean electricity
  • $25 billion for clean energy loans, grants, research, procurement and more
  • $20 billion for projects that reduce or avoid emissions by leveraging private sector investment
  • $9.7 billion to transition rural electric co-ops away from fossil fuels
  • $7 billion for state, local and nonprofit programs to install distributed zero-emissions technologies in low-income and disadvantaged communities
  • $5 billion for low-carbon projects in communities impacted by the closure of fossil-fuel infrastructure like refineries or coal-fired power plants

Fund:

The Build Back Better Act, passed by the House, contains more than $150 billion in tax incentives for clean electricity, as well as more than $25 billion for loans, grants, research, purchases and other essential clean energy programs. Tax incentives are essential to encourage the deployment of clean energy and reduce the cost of renewable energy and other clean energy sources.

The tax incentives included in the legislation are flexible and accessible to support all types of developers (small and large, for-profit and non-profit) who will usher in the fastest and most sustained construction of renewable energy in the world. . the country’s history. Incorporating labor standards such as applicable wage and national content requirements on clean energy credits will help increase American manufacturing and ensure the jobs created are good jobs.

Nationally3,048,603 people worked in the U.S. clean energy sector in 2020, according to the Clean Jobs America 2021 E2 report. This includes 492 891 in renewable energies, 2,107,174 in energy efficiency, and 273,630 in clean vehicles. The clean energy sector is rebounding from a downturn brought on by COVID-19, and the Build Back Better Bill legislation could accelerate that growth in the years to come.

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NRDC (Natural Resources Defense Council) is an international non-profit environmental organization with over 3 million members and online activists. Since 1970, our lawyers, scientists and other environmental specialists have worked to protect the world’s natural resources, public health and the environment. The NRDC has offices in New York, Washington, DC, Los Angeles, San Francisco, Chicago, Bozeman, MT and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.

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