The 2009 Green Innovation Index, which was released earlier this month, showed that in spite of the global financial crisis, that total Gross Domestic Product (GDP) produced per unit of energy (energy productivity) is 68 percent higher in California than the rest of the nation. This generates billions for the economy. Since 2005 green jobs in California have grown at a rate ten times faster than total job growth. Green tech venture capital investment nearly doubled in one year, hitting an all-time high of $3.3 billion in 2008, capturing 57 percent of the national total. Los Angeles, San Francisco and Sacramento together accounted for over 20 percent of the nation’s hybrid vehicle registrations in 2007.
The Index is an initiative from Next 10 and authored by Collaborative Economics. It is designed to track key economic, energy and environmental indicators, as well as provide critical data on the impact of innovation on the California’s economic and environmental health as California moves to reduce greenhouse gas (GHG) emissions to 1990 levels as mandated by the California Global Warming Solutions Act .
Key Findings:
1. California led all states in patent registrations for green technologies, increasing the state’s total number by 70 percent over a similar period in the early nineties from 2002-07.
2. Despite slowing in overall venture capital investment, clean technology investment in California hit an all-time high in 2008 of $3.3 billion, which is over seven times total clean tech investment in 2005.
3. Green job growth in California has grown by 10 percent since 2005, while statewide jobs overall have only increased by 1 percent.
4. California’s energy efficiency policies have served to foster over 1.5 million jobs over the last three decades, generating $45 billion in payroll.
5. California’s has the nation’s highest energy productivity.
6. Over 100.5 million transit service miles were added with California expanding public transportation 22 percent from 2005-06
7. In 2007, three of the top ten hybrid metropolitan markets were in California; Los Angeles (#1), San Francisco (#2), and Sacramento (#9) metropolitan areas accounted for over 20 percent of new hybrid registrations in the U.S.
8. California increased grid-connected photovoltaic solar capacity by 41 percent from 2006 to 2007.
The research included in this 2009 Green Innovation Index provides further evidence of the powerful economic stimulus clean energy policy can provide.Research included in this 2009 Green Innovation Index provides further evidence of the powerful economic stimulus clean energy policy can provide.
