THE CLEAN ENERGY ECONOMY

Clean energy jobs and investment could boom in Tennessee.

1,090 clean energy businesses in Tennessee generated more than 15,507 jobs, as of 2007.
Between 2006 and 2008, venture capitalists poured 16,329 million into clean technology businesses in Tennessee.
From 1998-2007, clean technology jobs nationwide grew by 9.1 percent, while total jobs grew by only 3.7 percent. Despite the financial crisis, experts predict jobs in the clean technology sector will be better protected than U.S. jobs overall.
On a national level, clean technology is the fastest-growing sector of venture capital investment. $4.12 billion was invested in clean technology in 2008, up 54 percent over 2007.

Without strong U.S. policy, China and India are quickly capturing the emerging multibillion-dollar global clean energy industry.

Uncertainty over U.S. policy is choking growth of this industry here at home. Passing federal climate and energy legislation will create the market certainty needed to spur investment and grow jobs.
Energy is the largest industry, by revenue, in the world. It represents the next breakout technology sector. Clean energy technology will do for energy what IT has done for information and communications.
Worldwide demand for new technologies developed to reduce global warming pollution will create a global market potential of more than $180 billion annually, according to government estimates.
China is spending $12.6 million every hour on clean energy investments. Only six of the top 30 wind, solar and advanced battery technologies are American.
By eliminating uncertainty, providing clear incentives, and establishing regulatory guidelines, federal policy creates the market signal to spur billions in investment capital, unleash our world-famous innovative entrepreneurs, and enable our state to help lead the clean energy technology revolution.
As Tennessee business leaders, we have a vested interest in the economic health of our state. As Tennessee entrepreneurs, we have our finger on the pulse of the state’s economic future.

Renewable clean energy protects Tennessee’s economy and consumers.

Renewable energy sources – unlike fossil fuels -- will not run out and have much more stable prices. Once a renewable energy plant is built, it runs on a free energy supply unlike a traditional fossil fuel energy plant. The costs of installing renewable energy plants will fall as the technology becomes more widespread, while the cost of installing and running fossil fuel energy plants will continue to go up due to increased demand and decreased supply. Actual experience and accurate modeling proves that integrating renewable energy into utility portfolios reduces electricity rates.