We're tired of bubbles, right? Anyone 30 or older has lived through two big ones so far, with a brief period of prosperity separating the decimation of dot-com largesse and mortgage-fueled paper wealth. It could take until 2014 for the jobs lost to be replenished, and there's little reason for optimism.
So, with the economy in the tank, we can focus elsewhere -- maybe on saving the planet. If we can't put green in our wallets, maybe we can add some to our lifestyles. Or, you could do both. Green technology could be the next boom in the United States, even if we do lag some parts of the world, and investing in clean solutions is really nothing other than investing in the next big thing. Even if you don't give a damn about climate change (or don't think it exists at all), the green market could likely become your employer -- or trigger the economic growth that will create your next job.
Some signs are visible already.
1. Boom born in bust
Most economic booms find their roots in recessions. Innovators and entrepreneurs take advantage of lost jobs, severance packages and lower prices to get new ventures off the ground.
2. There's no shortage of cash
Investors sunk $1.59 billion into clean technology venture capital in the third quarter of this year, continuing what's been a solid pace in 2009. The folks with the money see the potential, and they're committing. Since 2006, the VC community has put $8.7 billion into clean tech companies.
3. Innovation is flowing, not slowing
Solar cells, improved batteries and appliances are in development right now, along with electric cars. Infrastructure is also seeing some movement and will provide the underlying support necessary.
4. Washington is willing
The Obama administration has said it will invest $150 billion in clean tech over the next 10 years. This is forecast to create 5 million jobs -- a great start to replacing the 7.2 million that have been lost to the current recession.
5. Society is on board
A combination of momentum for the sector, evolving thinking on climate change, and memories of last year's gas prices have made more people open to the notion of green technology. And, the fact that these companies are attracting investment and grant dollars demonstrates an upside that transcends politics or science – most people care about financial upside first.
So, is every bubble followed by a pop? Yeah, probably. We're adapting to a boom/bust economy. But, if you take a close look, we've emerged from the recent busts better than we entered them ... and each bust sows the seeds for the next boom.
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Reader Comments (Page 1 of 1)
10-07-2009 @ 12:13PM
Taylor said...
No doubt about it that we need to look for alternative and domestic sources of clean energy. Many of these green jobs are still just dream jobs though at the moment, and actual hiring in any significant numbers, could be years away. For those unemployed at the moment, other career paths seem more likely. SalaryFor.com http://www.salaryfor.com/ offers free access to salaries being paid by companies for all professions now, as well as career advice and job openings.
10-10-2009 @ 1:08AM
design said...
Notice how this article told you everything you already know?