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Economic Impacts of a Clean Energy Transition in New Jersey
By Joshua R. Castigliego, Sagal Alisalad, Sachin Peddada, and Liz Stanton, PhD - Applied Economics Clinic, June 7, 2022
Researcher Joshua Castigliego, Assistant Researchers Sagal Alisalad and Sachin Peddada, and Senior Economist Liz Stanton, PhD prepared a report on the economic impacts associated with a clean energy transition in New Jersey that aims to achieve the State’s climate and energy goals in the coming decades. AEC staff find that adding in-state renewables and storage, and electrifying transportation and buildings creates additional job opportunities, while also bolstering the state’s economy. From 2025 to 2050, AEC estimates that New Jersey’s clean energy transition will result in almost 300,000 more “job-years” (an average of about 11,000 jobs per year) than would be created without it. AEC also identifies a variety of additional benefits of a clean energy transition, including several benefits that are conditional on the design and implementation of the transition.
In a companion publication to this report—Barriers and Opportunities for Green Jobs in New Jersey—AEC discusses equity, diversity and inclusion in New Jersey’s clean energy sector along with barriers that impede equitable representation in New Jersey’s green jobs.
Download a copy of this publication here (PDF).
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