$9 Billion in ‘Stimulus’ for Solar, Wind Projects Made 910 Final Jobs — $9.8 Million Per Job
The Obama administration distributed $9 billion in economic “stimulus” funds to solar and wind projects in 2009-11 that created, as the end result, 910 “direct” jobs — annual operation and maintenance positions — meaning that it cost about $9.8 million to establish each of those long-term jobs.
At the same time, those green energy projects also created, in the end, about 4,600 “indirect” jobs – positions indirectly supported by the annual operation and maintenance jobs — which means they cost about $1.9 million each ($9 billion divided by 4,600).
Combined (910 + 4,600 = 5,510), the direct and indirect jobs cost, on average, about $1.63 million each to produce.
As explained in a report by the National Renewable Energy Laboratory, which is part of the U.S. Department of Energy, the American Recovery and Reinvestment Act (“economic stimulus”) of 2009 included Section 1603, a grant program run through the Treasury Department.
The 1603 program offered “renewable energy project developers a one-time cash payment” to reduce the need for green energy companies “to secure tax equity partners” and also help them to achieve “ ‘the near term goal of creating and retaining jobs’ in the renewable energy sector.”
The National Renewable Energy Laboratory (EREL) tracked the grant program from its inception in 2009 through Nov. 10, 2011. Its report is entitled, Preliminary Analysis of the Jobs and Economic Impacts of Renewable Energy Projects Supported by the 1603 Treasury Grant Program.
— Which is a rather unfortunate and longwinded title, when they could have just gone with Yet More Proof That Keynesian Economics is Disastrous Bunk.
But then, not everyone shares my fondness for getting directly to the point.