Deutsche Bank Confirms Green Energy Creates Jobs and Economic Growth

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Available: Home with free electric (photo by Kainet, CC 2.0 Sharealike license)

From MIT's Technology Review comes this column from Kevin Bullis, about a recent report from Deutsche Bank on the economic benefits of investing in new energy projects:

It argues that it's possible to address challenges related to climate change, energy security, and the financial crisis at the same time by investing in four specific areas: energy-efficient buildings, electric power grids, renewable power, and public transportation. The report cites figures that suggest investing in these areas creates more jobs than investing in conventional energy sources because much of the old energy infrastructure is already in place. It says that "a $100 billion investment in energy and efficiency would result in 2 million new jobs, whereas a similar investment in old energy [such as coal or natural gas] would only create around 540,000 jobs."

Of course, Obama has already pledged to do something along these lines, and the blogosphere (including me, here) has chimed in as well. But the imprimatur of Deutsche Bank adds some gravitas to the proposal.

If you want to read the report yourself, it's here.

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