Saint Petersburg, FL (Vocus) March 24, 2010
While investment in many sectors of the economy is predicted to decline in 2010, sectors such as Solar Energy, Wind Energy, and Smart Grid Technology are positioned to flourish and grow. In fact, according to an Ernst and Young survey, they say the largest corporations are poised to invest 3-5% of their annual revenues back into Clean Energy technologies in 2010. In addition, the government is contributing in a big way. According to the Pew Trust, states will receive a major infusion of federal funds through the recently enacted American Recovery and Reinvestment Act, which allocates nearly $85 billion in direct spending and tax incentives for energy and transportation-related programs.
Additionally, every state offers some form of financial incentive to drive a Clean Energy economy and, therefore, Clean Energy jobs. Twenty-three states have adopted regional initiatives to reduce the global warming pollution from power plants, 46 states offer some form of tax incentive to encourage residents and corporations to use Renewable Energy or adopt energy efficiency systems and equipment, and 29 states and have established renewable portfolio standards, which require electricity providers to supply a minimum amount of power from renewable energy sources.
While all states are heavily incented to invest in the Clean Energy economy, there are a few states in particular that are ahead of the curve. The top five states with the most funding currently invested in Clean Energy are California, Texas, Pennsylvania, Ohio, and New York. However, Bob Deskin of CleanTechRecruits says that job creation is not limited to these five states. “While we are seeing a concentration of Clean Energy jobs in states like California and Ohio, we are also seeing many smaller startup companies hiring all across the country.”
As public and private funding keeps flowing into Clean Energy, the demand for engineers continues to rise. This demand for engineers in Clean Technology runs the spectrum from mechanical and environmental engineers to electrical, chemical and even agricultural engineers. According to the Bureau of Labor and Statistics, there will be more than 1.8 million people employed in the engineering profession by 2018. Bob Deskin says the majority of the positions they see posted on their site are engineering jobs. In fact, the site averages more than 300 engineering jobs posted on any given day which is about 40% of the job listings on their site.
This is good news since engineers earn some of the highest starting salaries of all college graduates in our economy. In fact, according to the latest US Bureau of Labor and Statistics, the median salary for an engineer is more than $82,000 and some demand much more. As the Clean Energy sector continues to seek new ways to deliver emerging technology, it stands to reason that more of these well-paying engineering jobs will be created and engineering professionals will continue to prosper.