Energy Industry Update: March 16, 2010 Outlining Positive Jobs Impact a National Renewable Electricity Standard Would Have
XsunX, Inc. (OTCBB:XSNX), the developer of advanced, thin-film photovoltaic (TFPV) solar cell technologies and manufacturing processes, updates its shareholders on a study sponsored by renewable energy trade groups that outlines the impact a national renewable electricity standard (RES) would have on the United States job market.
Navigant Consulting recently released a study titled, Jobs Impact of a National Renewable Electricity Standard that predicts 274,000 news jobs would be created by adopting a national requirement, or renewable electricity standard (RES), that mandates all U.S. utilities take 25 percent of their electricity supplies from renewable sources, such as solar and wind, by 2025.
I believe the job creation numbers estimated in the article, though pointing to substantial growth, are possibly underestimating the number of jobs that would result from a national RES, said Tom Djokovich, CEO, XsunX Inc. “While the jobs created along the entire manufacturing chain would be substantial, the opportunities to generate new industry jobs or even just expand existing operations for engineering and service providers will grow dramatically. Factor in the 25 percent of power that utilities will be required to use from renewable sources, and youve got a recipe that will require the deployment of massive and wide spread infrastructure, producing a long-term job creation effect. Additionally, there are the new job opportunities related to research and develop efforts as more private and government dollar flow into the sector.
Green groups say that such a national standard – already implemented in countries including Germany, Spain, France and China – is expected not only to spur job creation but also give foreign investors the confidence to sink money into the U.S. States including Arizona and Oregon have already enacted aggressive state-wide RESs and, as a result, theyre benefiting from foreign capital with Germanys SolarWorld establishing North American headquarters in Hillsboro, OR and Suntech Power Holdings expected to build what will be the first American solar manufacturing facility by a Chinese company in Arizona.
In step with XsunXs efforts to improve the manufacturing methods of thin-film solar cells, the study forecasts more than half the new jobs created would be in manufacturing. Tom noted, The successful completion of our new thin-film manufacturing method for the production of CIGS solar cells could have a huge impact on the solar market as we believe our technology may prove to be an economical replacement to the use of silicon wafer technology.
With job creation at the top of the political agenda in our still-sagging economy, green groups such as RES Alliance of Jobs, are pressuring Congress to establish a national RES, pinpointing senators from 14 states who are considered swing voters on this topic. Those states include: Arkansas, Florida, Indiana, Iowa, Kansas, Maine, Michigan, Missouri, Nebraska, North Carolina, North Dakota, Pennsylvania, South Dakota and Virginia. Simply put, an RES would be a unifying attempt to seriously jump start the renewables sector, added Tom.
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