The number of clean energy jobs in the United States will grow twice as fast as the total number of jobs in 2023, according to a report released Wednesday by the U.S. Department of Energy (DOE).

According to the 2024 U.S. Energy and Employment Report (USEER), jobs in this sector grew by 4.2%, or 142,000 jobs, last year, compared to a 2.0% employment growth rate in the overall economy.

The report also found that unionization rates in the clean energy sector would reach 12.4% in 2023, surpassing the 11% unionization rate in the overall energy sector, which created 250,000 jobs last year.

The clean energy sectors that saw the most growth last year were zero-emission vehicles and renewable energy, as well as transmission, distribution and storage, according to the report.

“Our policies are working. We are now seeing the impact of the investments under the infrastructure and anti-inflation bills on jobs – first in construction, and as America builds more of these factories, we will see hundreds of thousands more,” said the US Energy Secretary Jennifer M. Granholm it said in a statement.

Read also: Everything is bigger in Texas: The Lone Star State will produce more clean energy than the next 10 states combined

“The data clearly shows that clean energy means jobs – good jobs, union jobs and retained jobs – in communities across the country as we vie for dominance in the global clean energy economy,” Granholm added.

In 2023, clean energy jobs grew in all 50 states and the District of Columbia, led by a 7.7% increase in Idaho, followed by Texas at 6.0% and New Mexico at 5.9%.

The solar and wind energy sectors reported employment growth of 5.3% and 4.5%, respectively, in 2023, the report said.

The Department of Energy expects the Inflation Reduction Act to double the share of electricity generation from clean sources by 2030, driven by growth in solar and wind energy.

The report also says that 28,000 jobs were created in the U.S. last year through the construction of new battery and solar panel factories, offshore wind ports, and warehouses for storing and transporting clean energy products.

“Thanks to the Biden-Harris administration’s historic investments, clean energy jobs are booming in every single state,” said AFL-CIO President Liz Schuler it said in a statement.

Price promotion: Since early trading on Wednesday, solar and wind energy companies have shown a trend in both directions.

• Enphase Energy, Inc. ENPH Down 0.05% to USD 122.53
• Renewable Energy from Brookfield LP BEP rose 0.16% to USD 25.05
• GE Vernova Inc. GEV fell 1.40% to $182.96
• Vestas Wind Systems A/S VWDRY rose 0.13% to $7.62.

The exchange-traded funds that hold these stocks also posted gains and losses on Wednesday morning.

• IShares Global Clean Energy ETF ICLN Increased 0.21%
• First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund NETWORK 0.03% down
• Invesco Solar ETF TAN decreased by 0.42%

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Image created using artificial intelligence via Midjourney.