N.H. clean-energy economy grows jobs

Article published Jun 12, 2009 on NHBR


New Hampshire's clean-energy economy generated 4,029 jobs in 2007 and grew at a rate of 2 percent between 1998 and 2007, according to a new Pew Charitable Trusts report.

Pew's analysis provided the first-ever hard count across all 50 states of clean-energy jobs, companies and venture capital investments.

New Hampshire ranked in the top half of states for clean-energy patents from 1999 to 2008 (23rd) and clean technology venture capital investments from 2006 to 2008 (20th), with the latter totaling $66.9 million.

Overall, clean-energy jobs in New Hampshire grew by 6.8 percent between 1998 and 2007, while nationally, clean-energy jobs grew at a rate of 9.1 percent and total jobs grew by 3.7 percent.

“Jobs in New Hampshire’s clean-energy sector grew between 1998 and 2007, even though they lagged behind the state’s overall job growth,” said Jan Pendlebury, New Hampshire representative for the Pew Environment Group.

But she added, the state’s new climate action plan and some $67 million in venture capital invested in New Hampshire clean-tech related companies over the last three years should mean even more substantial growth.

New Hampshire's climate action plan, released in March 2009, is expected to benefit the state's economy with its long-term goal of reducing greenhouse gas emissions to 80 percent below 1990 levels by 2050. The plan calls for immediate action on sustainable, energy-efficient improvements in the state's building, transportation and electric generation sectors. 

Pendlebury called the plan an “incredibly thorough” model for the national cap-and-trade program to generate revenues that can be reinvested in a low-carbon economy. “It will help reduce global pollution, get us away from dependence on foreign oil and create jobs that will stay right here in New Hampshire,” Pendlebury said.

One of New Hampshire clean-technology ventures is an R&D company called Brayton Energy, which has recently begun expanding its facilities again.

The company is developing a Department of Energy-sponsored solar power electric conversion system as well as bio-fueled and high-efficiency gas turbines.

President Jim Kesseli said his firm “will create clean-energy economy jobs here in New Hampshire and expand the potential for renewable energy across the country.”

New Hampshire’s clean-energy industries also should receive a boost from the recently enacted American Recovery and Reinvestment Act, which allocates nearly $85 billion nationwide in direct spending and tax incentives for energy- and transportation-related programs. New Hampshire provides its own financial incentives for clean energy, has renewable portfolio standards and participates in regional initiatives. – JENNIFER T. YANG/NEW HAMPSHIRE BUSINESS REVIEW