RPIE Reading Series: Climate Economy
In this installment of RPIE’s reading series, we explore a recent op-ed that discusses major changes happening in the green technology sector–and why RPIE participants and job seekers may want to consider this field in their job search.
The Atlantic, a fact-checked general-interest magazine, recently ran an op-ed by Robinson Meyer about changes to the green technology field entitled “The Climate Economy is About to Explode.”
In the article, Meyer described changes connected to the 2022 Inflation Reduction Act, which recently went into effect and has wide ranging implications for the economy as well as for job seekers considering where to apply their expertise.
The biggest change is in relation to the clean energy industry. The IRA offers “uncapped” tax credits for initiatives like zero-carbon electricity and electric vehicles, which means that there is a massive incentive for companies to pursue green technology initiatives–which leads experts to forecast an industry boom.
“That could send total climate spending across the economy to roughly $1.7 trillion over the next 10 years,” Meyers writes, explaining that, according to Credit Suisse, the U.S. is “poised to become the world’s leading energy provider.”
These financial incentives will significantly alter how companies approach and hire for clean energy. Meyer explains that “companies should no longer worry that they might be unprepared for future climate regulation, such as a carbon tax. They should be scared of missing out on the economic growth that the energy transition (and the IRA) will bring about.”
What does this mean for job seekers and engineers? Meyer explains: “If you don’t yet work in the industry, but have always cared about climate change as an issue, well, this is your moment to get involved. These companies are going to need engineers, yes, but also programmers, accountants, marketers, HR staff, general counsels—there is space for everyone now.”
Are you interested in green technology? Do you have an idea for a green technology project or design you would like to develop? In the spring, RPIE will be offering special project courses, designed to support you as you bring your ideas to life. If you’d like to develop a project in green technology, make sure to send in your application to RPIE today.
Further reading:
A podcast discussing the IRA featuring Bill Gates:
An article about green hydrogen and the economy:
https://www.forbes.com/sites/alanohnsman/2022/11/17/green-hydrogen-plug…
