View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
9 December 2021

Investing in the energy transition means investing in rural America

Federal investment in seven key areas has a major role to play in kick-starting a new period of energy transition, economic growth and jobs in the rural US.

By Energy Monitor Staff

An annual federal investment of $55bn could create significant new economic opportunities in rural places in the US and tackle climate change at the same time, finds a World Resources Institute (WRI) study.

Free Whitepaper
img

What's the outlook for low carbon hydrogen?

The development of the hydrogen economy will support the fulfilment of decarbonization objectives, particularly for those sectors that are difficult to electrify, such as heavy industry, long-distance trucking, shipping, and aviation. GlobalData's Hydrogen Service tracks investment in the hydrogen sector, and provides you with:
  • A complete dataset of the low-carbon hydrogen projects across the globe.
  • Latest news across the hydrogen value chain.
  • Quarterly market analysis, with details of new projects, company activity and financial deals.
For more information, and to download sample pages from our quarterly market analysis, including a summary of the active and upcoming low-carbon hydrogen capacity by region, please enter your details.
by GlobalData
Enter your details here to receive your free Whitepaper.

The $55bn package would include $19.6bn for electricity transmission, distribution and storage, $18.8bn for renewable energy, $8.3bn for energy efficiency, $2.4bn for environmental remediation of abandoned fossil fuel infrastructure, $4.3bn for tree restoration on non-federal lands (and $445m for tree restoration on federal lands), and $1.5bn for wildfire risk management.

Stalks of corn are seen near the property of the ‘Clean Energy Barn’, which was built directly in the path of the proposed Keystone XL Pipeline and is equipped with solar panels and a wind turbine, in 2014 in Polk, Nebraska, US. (Photo by Andrew Burton/Getty Images)

Such an investment would add up to nearly 260,000 direct, indirect and induced jobs across rural communities that would last for at least five years, says the WRI. On a country level, the added value from such investments could total $72bn annually, or $1.31 per dollar spent.

The effects on economic development could be even higher, with less conservative assumptions on economic impacts from private sector investment, suggest the authors. They identify robust federal clean energy spending as a catalyst for change in the rural US.

Data shows that most of the employment growth in energy in rural counties nationwide has come from renewable energy. Between 2017 and 2019, renewables added roughly 10,000 new jobs in the rural US.

Free Whitepaper
img

What's the outlook for low carbon hydrogen?

The development of the hydrogen economy will support the fulfilment of decarbonization objectives, particularly for those sectors that are difficult to electrify, such as heavy industry, long-distance trucking, shipping, and aviation. GlobalData's Hydrogen Service tracks investment in the hydrogen sector, and provides you with:
  • A complete dataset of the low-carbon hydrogen projects across the globe.
  • Latest news across the hydrogen value chain.
  • Quarterly market analysis, with details of new projects, company activity and financial deals.
For more information, and to download sample pages from our quarterly market analysis, including a summary of the active and upcoming low-carbon hydrogen capacity by region, please enter your details.
by GlobalData
Enter your details here to receive your free Whitepaper.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Keep up with the global energy transition with one of our editors bringing you the best of our data-led news and analysis every Monday and Thursday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Energy Monitor