New Financial Analysis Finds Significant Economic Benefits from Clean Energy Transition
Transformation of utilities and transportation sectors could yield $2.3 trillion annually for U.S. economy
New York, NY — August 5, 2024 — A new financial analysis by Siebert Williams Shank (SWS) finds that the projected infrastructure cost of the clean energy transition, while substantial, will be a worthwhile investment that could yield enormous economic benefits in the United States.
The 112-page study estimates that while the electric infrastructure costs of the transition are about $10 trillion over the next 30-50 years, the net financial benefits to the U.S. economy could ultimately exceed $2.3 trillion annually.
“The clean energy transition translates into an opportunity for a step change in job creation and broader prosperity in the U.S. and globally,” the SWS report states.
Analysts behind the report echoed that sentiment in a recent “In Conversation with SWS” podcast, in which they dive deeper into the findings’ underlying mechanics.
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SWS’s clean energy transition report is relatively unique in two ways. First, while most such reports focus on the aggregate costs for all sectors in the transition, the SWS analysis breaks down the transition’s implications for the electricity industries more specifically. The report examines two sectors: utilities and transportation, which collectively represent about 65% of U.S. carbon emissions.
Second, the report focuses on economics rather than climate change. Discussion in the media typically frames the clean energy transition as a debate about its effectiveness in combating global warming. Rarely is there deliberation over the full economic consequences of the proposed transition other than a potential reduction in carbon emissions for the environment.
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Read the full article on Yahoo Finance here.
Siebert Williams Shank & Co. LLC
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1ac4da71-31a8-4e82-afc6-714b139fad74
August 5, 2024
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