While many co-op and condo boards are terrified by the looming costs of retrofitting their buildings to comply with the city’s ambitious carbon-emissions targets, there is news that energy efficiency is good for more than the environment. It’s also good for the economy.
The New York State Energy Research and Development Authority (NYSERDA) has announced that New York’s rapidly growing clean-energy economy employed nearly 159,000 workers in 2018, according to the state’s 2019 Clean Energy Industry Report. Since 2016, New York’s clean energy economy saw 8.9 percent employment growth – more than double the growth of the state’s overall economy.
“New York is quickly beginning to outpace the rest of the country in becoming a global hub for clean technology businesses,” says Alicia Barton, president of NYSERDA.
And the federal government predicts that jobs tied to the green economy will experience the fastest growth in the coming decade. Solar photovoltaic installer is expected to be the fastest-growing occupation in the country from 2018 to 2028, according to a new report from the U.S. Bureau of Labor Statistics. Solar PV installer jobs are projected to grow 63.3 percent in this time frame, much faster than the average for all occupations. Wind turbine technician came in second place for fastest-growing occupation from 2018 to 2028, with a 56.9 percent increase expected.
While the number of solar panel installers and wind turbine technicians is still relatively small, the growth of these fields will be explosive in coming years. And that’s good news for co-op and condo boards who will have to figure out a way – and hire the workers – to reduce their buildings’ carbon emissions.
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.