As traditional industries struggle with the public’s increasing environmental consciousness, there is a number of new green industries that are receiving more attention. I have highlighted a number of new green industries that we will all hear more of in the coming years.
Green Manufacturing
When we talk about green manufacturing, we are looking at an industry that uses traditional manufacturing methods and factories to create items for green industries. Many traditional engineering companies have found new markets in the solar, wind and environmental industries. By manufacturing parts for wind turbines, solar panels and geothermal equipment, traditional manufacturing companies can become more profitable switching over to green manufacturing. Studies have suggested that the manufacturing sector could create about 1 million jobs directly and another 2.5 million indirect jobs in related industries.
Green Retailing
Green retailing is retrofitting an existing retail business to meet the demands of customers who want environmentally friendly products and services. This industry is quickly growing as more green products are available and the increased demand by the public. Study after study has shown that the public will buy green products even in the current depressed market.
Green Chemistry
The green chemistry industry involves the design of chemical products and processes that reduce or eliminate the use of hazardous substances. Many large companies are rushing to develop products that the public want to use that do not contain the chemicals they fear to be bad for the environment. Companies like Clorox have brought out a range of products that will perform the same tasks as the traditional cleaners, but based from plants not chemicals.
Solar Energy
The solar energy has grown some 16% in the last year, which was the third of record growth. Currently the solar energy industry employs approximately 35,000 people directly and some 85,000 indirectly. The US government and state agencies are keen to encourage the use of solar energy and are setting renewable energy benchmarks. To persuade consumers the agencies are offering tax incentives for increased use of solar energy.
Wind Energy
Across the US, the sight of large wind turbines is becoming more common. These turbines can harnesses the wind to create energy and the US government has stated that there is the potential to create enough energy from wind to satisfy the nations demand. Currently twenty states are using, or planning to use, wind energy this year. The industry could employ as many as 85,000 jobs directly with increased use of the technology.
Geothermal Energy
Not as well known as wind or solar power, but geothermal energy offers an alternative to traditional power generation and could be an important green industry. Geothermal energy is a clean, renewable energy that uses the heat from the earth to generate steam to drive turbines. It currently provides electricity for approximately for 2.4 million US homes and in 2008 the industry employed 9,000 people directly and 16,000 indirectly. Currently there are over 100 active projects under development that could create 100,000 construction and manufacturing jobs in the next five years.
Smart Grid Technology
The smart grid industry is a national effort to modernize the electric transmission grid with upgraded, automated, interactive technology. This is hoped to save energy, reduce cost and increase reliability of the transmission grid. The updating of the grid will also help with the additions of the new energy sources which will require additional transmission lines to connect locations with renewable energy facilities.
Building Retrofitting
Most buildings are not close to being energy efficient. Most residential and commercial property wastes heat and energy through poor design or ignorance. The answer to this is to refit buildings to be energy efficient. This is a cheap and easy way for consumers and companies to save energy and money. The US government has indicated that it wants to retrofit 10 million homes every year until 2020. Currently, around 250,000 homes are retrofitted annually and this is performed by approximately 1,000 companies. Given the desire of the federal government, the building retrofitting industry could employ as many as 1.25 million people directly and about 6 million.
Advanced Biofuels
The new second-generation biofuels are derived from non-food crops such as cornstalks, switchgrass and municipal solid waste. These biofuels emit 60 percent less greenhouse gases. Under the Energy Independence and Security Act of 2007 (EISA), advanced biofuel production is expected to rise from 2 billion gallons per year in 2012 to 21 billion gallons in 2022. By 2012, the advanced biofuels industry could employ as many as 29,000 direct people.
Sustainable Agriculture
Sustainable agriculture is a way of farming that produces food indefinitely, without causing severe or irreversible damage. Organic food sales topped $1.7 billion in 2007, up from $393 million in 2002. Consumers desire to purchase organic food is rising steadily and this is requiring farmers to convert their traditionally run farms to organically-based concerns.
