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The USGBC Proposes new programme to invigorate the economy and reduce unemployment

The unemployment rate in the US construction sector remains high (13.6%) relative to the national average (9.1%). Though the construction unemployment rate has dropped from a whopping 22.5% in January to current levels, this can be attributed to workers fleeing the industry, since the number of jobs in construction have remained stable over the past 18 months.

But the USGBC has recently suggested that investing in building retrofits is one silver bullet America could use to restart the economy and create jobs. They have identified five key components that need to work in concert in order to stimulate a low-carbon economy and lower unemployment:

1. Transportation: Make vehicles more fuel efficient, commercialize electric vehicles, develop fuel alternatives, and invest in public infrastructure.
2. Renewable energy: Develop a strong national renewable energy standard of at least 25% by 2025.
3. Building efficiencies: Buildings use 70% of all electricity and produce 40% of all greenhouse gases, so improving their energy efficiency holds tremendous potential for reducing greenhouse gas emissions and creating jobs.
4. Clean energy finances: The federal government will need to invest in clean energy technologies.
5. Do no harm: Allow the federal government to regulate in the public interest and avoid rolling back local and state laws.

And the environmental potential in the building retrofit industry is tremendous. The Center for American Progress has called energy efficiency the cheapest, cleanest, most abundant source of energy available to Americans. A McKinsey & Company report identified the following potential benefits of investing in a clean energy economy:

• Reduce non-transport energy consumption by 23% by 2020.
• Eliminate $1.3 trillion in energy waste after a $520 billion upfront investment.
• Cut greenhouse gas emissions by 1.1 gigatons every year, which is like taking all US passenger vehicles and light trucks off the road.

The report indicates that the key to achieving these goals is recognizing energy efficiency as the focus of clean energy investments. These same principles would certainly apply in a European context as well.