There is an interesting post by David Middleton over at WUWT. Using data from the U.S. Department of Energy (DOE) and the Institute for Energy Research (IER), Middleton notes that 2,298 permanent jobs have been created since 2009 on green energy projects in the U.S., mostly solar, wind, and geothermal jobs (see table below). Those jobs were created by $26.32 billion in loan guarantees by DOE. That comes to $11.45 million per job created.
Middleton says of this: “Clearly, in terms of ‘bang for the buck,’ government programs that coddle renewable energy are losers. In terms of jobs, the losers are the American workers who would otherwise be gainfully employed but for the tremendous waste of taxpayer dollars on the administration’s obsession with ‘green energy.’ As the economy continues to suffer and dollars for federal programs get harder to come by, it is getting increasingly difficult to defend a program that costs so much and produces so little.”
President Obama promised to create 5 million green energy jobs over 10 years. He has only 4,997,702 jobs to go.
The alleged rationale for these green energy projects is to reduce emissions of carbon dioxide produced by generation of electricity, and indeed they have. Middleton calculates that U.S. green energy projects have reduced global carbon dioxide emissions by 0.007% relative to coal or 0.00035% relative to natural gas. Again, not much bang for the buck. It’s your tax dollars at work.