Wind turbines in Texas. Photo: Paul Harris/Getty Images
The U.S. green economy generates $1.3 trillion in annual sales revenue and sustains 9.5 million full-time jobs, according to a study from University College London published on Tuesday.
Why it matters: These numbers make it possible to compare the green sector to the traditional fossil fuel related industry and determine its impact on the economy.
- "[T]he 9.5 million jobs represents over 4% of the working age population ... while $1.3 trillion is a little under 7% of annual GDP," CNBC notes.
Between the lines: Measuring the green economy's impact on the U.S. has been difficult since the Bureau of Labor Statistics' Green Goods and Services survey was halted due to federal budget cuts.
- Because of the cuts there has been a lack of official, comprehensive data from the federal government on green industries, per the study.