According to Jose Beceiro, Director Economic Development with the Austin Chamber of Commerce, Texas oil production peaked in 1975, however the economic boon that oil brought to the area is now being surpassed by a green economic boom.
Around 1700 companies in Austin have embraced green-tech and clean energy and are driving the new economy. With 45,000 people now employed in this sector in Austin, and with this figure growing it is clear that Green is the way of the future.
The City’s Green building requirements, and incentives offered by Austin Energy are driving a new wave of green building support services and products.
For example the Mueller development where an entire suburb of 10,000 to 15000 people is being built by developers Catellus in partnership with the City of Austin from the ground up on the basis of rigorous sustainability principles. This has seen the emergence many new green jobs. The town will be the test site for the Pecan Street Project described below.
Deane Desjardin of Catellus, Climate Change Fellow Wayne Prangnell, and Pam Hefner of the City of Austin discuss the model of the Mueller Project. About one third of the project, that incudes residential, commercial and health care, has been completed to date.
The transition to electric vehicles and Austin’s program to install 200 charging stations in the next 12 months will also drive economic change.
Renewable energy generation and storage is the focus of around 250 companies. Within this arena Austin businesses have been making significant inroads in solar power generation, wind power generation, biofuels and battery storage systems.
Examples include Austin’s HelioVolt Corporation that has attracted over $130 million in investment. The business manufactures thin film solar PV modules. Joule Unlimited that has developed a way of producing renewable fuels using waste water, carbon dioxide and a tiny organism, that sequest carbon and are claimed to produce 15,000 gallons of diesel per acre annually, as compared to 3,000 gallons of biodiesel produced indirectly from algae. SolarBridge Technology that is manufacturing more energy efficient micro AC solar inverters for PV modules. Skyonic that is developing carbon capture technologies suitable to treat flue gases from coal fired power generators.
Austin’s Pecan Street Project, which is funded through a $10.4 million Federal Department of Energy stimulus grant, has a goal to create a set of standards around smart grid technology. Using smart meters the project leaders are looking at everything from solar panels on rooftops, electric vehicles, appliances, to charging stations within the home to discover how to design neighborhoods and cities to be sustainable.
Clearly the urgent transition that is required from the damaging fossil fuel economy to the clean green and renewable economy will require technology and business innovation. For those who embrace these new challenges there are massive opportunities for economic gain, jobs and profit.