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Increased Use of Solar Power Could Add 123,000 New Jobs by 2030


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July 3, 2007 By

Development of the solar energy industry in Texas would have a significant economic impact for consumers, the environment and workers, according to a new white paper released by the IC² Institute at the University of Texas at Austin.

Opportunity on the Horizon: Photovoltaics in Texas finds that the near-term benefits of nurturing the solar energy industry in Texas will stimulate the state's economy, reduce the cost of power for consumers and minimize green-house gas emissions. The report is available for download at www.ati.utexas.edu and is listed in the information section.

"The white paper finds the potential for economic growth in Texas through the creation of a vibrant solar power industry," said Joel Serface, director of the Clean Energy Incubator at The University of Texas at Austin and a contributor to the report. "Worldwide, the cost of converting sunlight to electricity is rapidly decreasing. The right public policies, combined with emerging and increasingly efficient technologies in solar power, would create a solid opportunity for Texas to build an economic engine on this non-polluting resource."

The paper cites a recent University of California-Berkeley study that finds the solar industry produces seven to 11 times as many jobs on a megawatt capacity basis as coal-fired power plants and has a larger positive trickle-down effect than wind energy.

"Solar-produced power appears to have the greatest potential of all the alternative energy technologies," said Pearce W. Hammond, vice president, Simmons & Company International, an investment bank specializing in the energy industry. "Given its solar assets, Texas should excel in this field and potentially become a world-leader in solar technology, implementation, related jobs and production."


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