Job Creation and Economic Growth

Investing in energy innovations creates well-paying jobs, drives economic growth, and makes our industries more competitive. Around 3.5 million Americans already work in renewable energy jobs, and jobs in renewable energy grew at more than twice the rate of the strong overall U.S. labor market in 2023. 

How Do Energy Innovations Boost the Economy?

As energy demand increases globally, there has been a rise in demand for renewable energy—leading to new markets and a once-in-a-generation financial opportunity to position the United States as a global leader designing, manufacturing, and deploying renewable energy technologies. 

The growing global market for renewable energy technologies and innovations is projected to be worth at least $23 trillion by 2030. Investment in renewable energy innovation has grown from $78 billion in 2018 to over $240 billion in 2023. Energy investments and innovations are being made by Americans for Americans in America—delivering millions of well-paying, stable jobs, creating a reliable, lower-cost domestic supply chain, and supporting opportunities in communities across the country.   

Jobs related to renewable energy generation now employ three times more workers than those associated with traditional energy sources with renewable energy technologies, such as solar panels, wind turbines, hydropower systems, and geothermal systems accounting for more than 84% of net new electricity generation jobs in 2022. 

How Do Energy Innovations Lead to More Jobs? 

The United States needs millions of well-paying jobs to manufacture and deploy batteries, electric vehicles, wind turbines, solar panels, energy-efficient appliances, biorefineries, and more. Through its targeted investments, workforce-training programs, and technical-assistance initiatives, the U.S. Department of Energy (DOE) is scaling up technologies that will put Americans to work in construction, skilled trades, and engineering. These initiatives will help the U.S. build vital, new infrastructure and ensure that every worker can thrive in the modern energy economy.

DOE is working to:

• Standardize education and training to include clean energy technologies and help integrate these materials into existing training and education pathways.
• Incentivize applicants for DOE funding to improve the quality and accessibility of jobs and training associated with implementation of their proposed projects and programs.
• Help connect the dots between education, training, entry-level jobs, and long-term careers in the clean energy sector by aggregating resources at regional scales.
• Support market growth and stability by fostering stable pipelines of clean energy contracts.  

To maximize the positive economic impact of clean energy, DOE is committed to creating quality jobs that can sustain American families. There are just over 8 million jobs in renewable energy today.