The huge potential for growth in green jobs is being mandated and funded. The Energy Independence and Security Act of 2007 require large utilities to obtain 15 percent of their electricity from new renewable resources such as solar and wind by 2020. On May 18th, 2009, Secretary of the Department of Energy Chu announced the first 16 of the 100 standards that much be addressed by September in order to clear the way for the expenditure of Stimulus Package funds towards expanding the Smart Grid.
Small and medium-sized businesses particularly are predicted to expand the green jobs market rapidly over the next ten years with considerable financial support for the investment markets and government. The Cleantech Network reports that venture capitalists have put $1.74 billion into North American and European green technology start ups in just the third quarter of 2007.
Additionally, the energy crisis and the large number of retirements expected over the next 10 years in public utilities are contributing to the transition to a greener economy. According to the President of the Association of Energy Engineers, Rusty Hodopp, 41 percent of its members plan to retire within the next ten years.
The skill set that workers need to have in place is varied and multiple within the five green energy industries of wind, solar, biomass, geothermal, and smart grid.
Currently, Germany and Spain each generate 5 percent of their energy from the wind while U.S. total is only.5 percent. Wind power ranked second to biomass as a renewable energy job source as of 2006 in the U. S. The capacity to create all the energy needed for the entire country from just wind power is estimated to be within boundaries of four states