A new economic study by Navigant Consulting finds that over 116,000 U.S. jobs and nearly $19 billion in U.S. investment could be lost in just one year if renewable energy tax credits are not renewed by Congress, according to preliminary results released by the American Wind Energy Association (AWEA) and the Solar Energy Industries Association.
The study finds that over 76,000 jobs in the wind industry and approximately 40,000 jobs in the solar industry are put at risk. The states that could lose the most jobs include Texas, Colorado, Illinois, Oregon, Minnesota, Washington, Iowa, North Dakota, Oklahoma, Pennsylvania and California.
‘At risk are many thousands of construction jobs, operations and maintenance jobs, and a major shot in the arm for the ailing U.S. manufacturing sector,’ says Gregory Wetstone, senior director for public and government affairs at AWEA. ‘Shuttered facilities that once provided steel, railcars, trucks, submarines and household appliances are now being converted to manufacture renewable energy components. Today, however, investors are holding back because of Congress's delay in extending renewable energy tax credits, undermining one of the brightest and fasting-growing areas of the American economy.’