Geothermal: The American Job Engine

If we knew that there was a form of alternative energy that we knew was growing private sector jobs at an incredible rate, cutting our emissions, and cutting our trade deficit all at the same time, we would jump at the opportunity to invest in it, right? Well, we have to look no further than Geothermal energy to hit each and every one of these points.

Geothermal has made a giant leap over the last few years. As you can see in the graph below, the geothermal sector has boomed, tripling in size from 2005-2008:

However, that's not the best news. Below is a chart of the countries that geothermal heat pumps made in the United States have been shipped to:

Source: U.S. Energy Information Administration (http://www.eia.doe.gov/cneaf/solar.renewables/page/heatpumps/heatpu...)

Compare those numbers above to the ones in this chart:

Source: U.S. Energy Information Administration (http://www.eia.doe.gov/cneaf/solar.renewables/page/heatpumps/heatpu...)

See a difference between the two charts? We exported almost 70,000 geothermal pumps in 2008, compared to only 86 that we imported. In May, a report was released that said that while the U.S. still leads in Geothermal power production, Germany has the fastest growing market in the world and will catch up to us if we don't make the right investments.

Not only is Geothermal virtually emission-free, but there is also a growing export market for our country that can and will continue to shrink our trade deficit at a time when we are outsourcing more jobs than ever before. Not only is Geothermal power capacity growing at home, but it's growing abroad as well, and the private sector in our country has been more prepared to fulfill people's needs than companies in other countries have been. Today, Geothermal energy is providing power to over 52 million people worldwide, and that number will only continue to grow.

Geothermal is a model of what the entire green sector could do for America's economy. If we make the right investments now and ensure that we are building the most, not to mention best, products, our economy will be able to transition to brighter economy future for our country as we lead the world into a new generation of our way of life.

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