There is a gathering avalanche of data that verifies Obama administration claims that the redemption of the nation’s “jobless recovery” is in a New Energy economy.

A new report, Clean Energy and Climate Policy for U.S. Growth and Job Creation, from researchers at the University of California, Berkeley, the University of Illinois (Urbana-Champaign) and Yale University, concludes that Congressional legislation incentivizing New Energy and Energy Efficiency would drive investment, increase household income and spur economic output that would build job growth.

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According to the report’s findings, a legislative package comparable to the bill passed by the House of Representatives in June and now working its way through the Senate that institutes emissions reduction measures, New Energy incentives and Energy Efficiency drivers would, by 2020, create 918,000-to-1.9 million new jobs, increase annual household income $487-to-$1,175 per year, and boost GDP $39 billion-to-$111 billion, all beyond business-as-usual (BAU) economic growth.

Far from idle claims or wishful thinking, this study was the result of applying Environmental Assessment in GeneraL Equilibrium (EAGLE), a rigorous economic model collaboratively developed by the University of California, Berkeley, the University of Illinois (Urbana-Champaign) and Yale University.

It is, therefore, one of the most legitimate studies yet to emerge on the impacts of energy and climate legislation and shows that previous studies from the Environmental Protection Agency (EPA), the Energy Information Administration (EIA) and the Congressional Budget Office (CBO) probably understated the economic benefits of transitioning to a New Energy economy.

(Want more on that avalanche of evidence proving New Energy's economic value? For starters, see Cap and Trade Is Good for the Farmers, New Energy Will Bring Blue Collar Jobs Back, New Energy Everywhere, Climate Fight Is...Good for the Bottom Line and Latest New Energy Job Trends. And that's just for starters.)

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A summary of  David Roland-Holst and Fredrich Kahrl's November 13, 2009 (University of California, Berkeley) report from UCal, Berkley, entitled,  "Clean Energy and Climate Policies Lead to Economic Growth in the United States: New analysis shows that adopting comprehensive clean energy and climate legislation could create up to 1.9 million jobs" can be found here. 

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