Renewable Energy Has More Economic Benefits Than You Know

We all know that renewable energy sources such as solar and wind are good for the environment. But did you know investing in renewable energy boosts the economy as well? The renewable energy sector is growing rapidly and there’s no better time to make the switch than now. An article written by Jake Richardson highlights some key benefits of investing in renewables: 

“Jobs, jobs, jobs! The first point is that there are a huge number of people employed in renewable energy jobs globally. There are almost 10 million of them around the world. Slightly over 3 million are employed in solar power. Large hydropower employs about 1.5 million people, and 1.2 million are in wind power employment. Advanced energy — which includes solar, wind, energy efficiency, energy storage and EVs — contributed $1.4 trillion to the global economy in 2016. (The US portion of this amount was $200 billion.)

Of course, renewable energy contributes more economically than only jobs and pollution reduction. An IRENA report includes a reference to how stimulating renewable energy investment can be. “Doubling the share of renewables in the global energy mix by 2030 would increase global GDP by up to 1.1% or USD 1.3 trillion. The report shows that such a transition increases global GDP in 2030 between 0.6% and 1.1%, or between around USD 700 billion and USD 1.3 trillion compared to business as usual.”

– Jake Richardson
As we can see, renewable energy is the energy of the future! Investment in this sector is not only good for the environment, it is also good for the economy and our overall well-being. It’s time to move away from environmentally damaging fossil fuels and invest in a cleaner, more sustainable source of energy. Read more of the benefits of renewable energy here.

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