Vermont’s ambitious plan to transition its energy industry to renewable sources is hoped to create jobs and keep young people in the state.
In 2011, Governor Peter Shumlin announced a plan to obtain 90 percent of Vermont’s total energy from renewable sources by 2015. As part of this initiative, which was the state’s first comprehensive energy plan in more than a decade, the governor signed an energy bill intended to expand renewable energy credits and save Vermont residents $390 million in energy costs.
Clean energy in Vermont has increased at a 9.8 percent growth rate since 2013, a report by the Vermont Department of Public Service found. The industry employs more than 16,000 people in the state, with 4.8 percent of all employees in Vermont involved with the clean energy industry. Some 1,000 additional jobs are predicted to be created by March 2016, representing a 6.2 percent growth rate.
Industry and state leaders hope that the growing shift to renewable energy attracts young people to stay and work in the state after college, according to local station WCAX.
A study conducted by the University of Vermont found that individuals with master’s or higher-level degrees are more likely to leave Vermont and move to another state, and that the majority of those who leave cite greater jobs opportunities and higher wages as among the main motivations for moving.
“Clearly what we know we need to do as a state is attract more young people and retain the young people that are here, said Linda McGinnis of the Energy Action Network in an interview with WCAX.
Vermont and its schools have several programs in place designed to support entrepreneurship among its youth and graduates. One such program, the Vermont Center for Emerging Technologies (VCET), has directly assisted 900 entrepreneurs, and the 43 firms it supports have so far collectively generated $72 million in revenue. VCET also manages a $5 million venture capital fund for promising startups.
Employment in clean energy grew by 6.2 percent between the first quarters of 2014 and 2015, VT Digger reported, with solar energy the fastest growing sector. This growth rate in clean energy employment towers over the statewide average employment growth rate of 1.8 percent.
“We’ve seen incredible growth in the solar industry over the past year, so much so that we’ve doubled our head count to meet demand,” said solar firm SunCommon spokeswoman Emily McManamy to VT Digger.
With a greater number of jobs and more young people building careers in the industry, Vermont will be on its way to reaching its renewable energy goal.