Hi guys, Scott Asner here.
In my previous blog post, I discussed the possibility of governments using stimulus packages to invest in green technologies that will, in turn, help create new jobs while bringing the U.S. into the forefront of burgeoning industries.
However, it’s easy to just state these claims without giving thought to what that process could look like. So today, I wanted to take the time to go deeper into this topic and discuss a couple of areas where green-tech and green industries can help stimulate job growth.
Buildings generate nearly 40% of annual global green-house-gas emissions. The two most common sources of energy for buildings are electricity and direct consumption of natural gas and petroleum for things like heating and cooking. This is a large area of energy consumption — which makes it a great area for improvement.
The process of making existing buildings more energy efficient is called “retrofitting.” Often retrofitting involves modifications to existing commercial buildings that may improve energy efficiency or decrease energy demand. Improvements can be done in areas such as lighting, air distribution systems, heating and cooling upgrades, and much more.
Many buildings still need to be “retrofitted” and this could be an area where we invest in higher energy performance commercial building assets while also simulating jobs. It may be worthwhile to increase the current number of buildings being renovated for energy efficiency.
Electric Vehicle Chargers
Bloomberg NEF’s latest analysis predicts that by 2022, there will be over 500 different electric vehicle models available globally. This expanding market will be able to offer dynamic pricing for a spectrum of buyers from luxury to price-sensitive, making EV a viable option for the masses.
The trends show that mass adoption of EV will make its breakthrough soon. According to the International Council on Clean Transportation, the United States will need to invest more than $2.2 billion in charging infrastructure to meet demand for charging by 2025. A breakdown of those numbers shows that $1.3 billion will be needed to make the necessary upgrades to home charging while $940 million would go toward workplace and public charging.
Investments in charging infrastructure are critical to boost EV mass adoption in the U.S., as studies have shown that a lack of charging opportunities remains a top reason why potential buyers aren’t going for these kinds of vehicles.
In instances when the government issues trillions of dollars for stimulus packages – these areas present opportunities for investment. We could help change our infrastructure to support the adoption of these emerging technologies.
These are just two ideas — but the green tech industry is full of great, creative ideas on how we can create new jobs while also bettering our society and preparing ourselves for the world of tomorrow. We can possibly view this challenging moment as an opportunity to propel ourselves forward.
~ Scott Asner, Founding Principal of Eighteen Capital Group (18CG) in Kansas City, Missouri.