Biz Green Tech Spend Seen Rising

Companies will continue to invest in green technologies in 2009 at the same or greater levels than in 2008, according to a study by Panel Intelligence.

In its first quarterly sustainability track studying, conducted in early November of 65 sustainability executives from Fortune 500 companies, the cleantech and healthcare market research firm reports:

• Sustainability and clean technology spending as a percentage of corporate revenues should increase 73 percent through 2010.

• 82% of respondents rated energy efficiency as the most important area of focus and investment.

• Corporate spending on sustainable waste management initiatives is expected to grow by 20% in 2009, the highest percentage increase of any subcategory.

• Cost savings, revenue generation and brand strength are the most important drivers of environmental and clean technology initiatives.

• Nearly 55% of respondents observe no financial criteria (i.e. ROI, payback period) when evaluating sustainability projects for their respective organizations.

• A majority of respondents believe capital remains available for sustainability projects.

Says Scott Packard, the firm’s VP of quantitative research:

Sustainability and clean technology initiatives have achieved a tipping point and are no longer perceived by U.S. organizations as an optional expense. Rather, sustainability is an opportunity to achieve a greater competitive advantage and higher efficiency, even in a down economy. Similar to competitive pricing, technology and product quality, sustainability is starting to be required by customers and supply chain partners.

Stimulis Could Provide $50 Billion for Green Projects

As part of its economic stimulus package, the Obama administration may earmark $50 billion to fund environmentally sound infrastructure projects, according to a key economic advisor.

Obama adviser and Economic Policy Institute economist Jared Bernstein (left) along with other economists see the money funding at least $50 billion in environmentally sound infrastructure projects that could be up and running within a few months, according to a posting on Bloomberg.com.

Among the steps along the “green path,” Bernstein said, could be a requirement that repairs made to public buildings be environmentally friendly.

According to Bloomberg:

A critical mass of support for clean-energy spending and green-collar-job creation is building among environmentalists, labor groups, local governments and companies such as Google Inc. and American Electric Power Co., the biggest U.S. producer of electricity from coal.

The loosely knit coalition is advocating for what (Obama transition team advisor Bracken) Hendricks calls a “green recovery” stimulus that would create jobs with an eye toward conserving resources and reducing reliance on fossil fuels such as coal and oil.

Google backs long-term tax rebates for renewable energy plus a federal investment in electric smart-grid technology to cut energy use by developing two-way communications between utilities and their customers. Again Bloomberg:

Both provisions would create high-technology jobs, said Harry Wingo, energy policy counsel for Google, which has been meeting with Obama advisers and Capitol Hill lawmakers.

Green-jobs provisions “are going to lead to more job creation here and put us in a better spot to compete for the global market in clean energy,” Wingo said.

And, no doubt, among those new jobs will be some for IT pros to make the smart-grid, well, smart.

Identifying Occupations to Benefit from Green Investments

A recent report, Green Recovery: A Program to Create Good Jobs and Start Building a Low-Carbon Economy, from the Center for American Progress and the Political Economy Research Institute, identifies nearly 60 occupations that should benefit from green investments.

(Click on chart to view larger version.)