UK study finds local jobs ride on smart grid investment
A study released by the London School of Economics has found that a £15 billion (US22.2 billion) investment in broadband, smart grids and intelligent transport systems would offer a greater economic stimulus than investing in roads and bridges in the UK.
The deployment of energy cutting digital networks would create and maintain 700,000 jobs, as well as delivering large reductions in carbon emissions.
A £5 billion (US$7.4 billion) smart grid investment would create or maintain an estimated 235,000 jobs, and an equal investment in broadband and intelligent transport would create or maintain 280,000 and 188,000 jobs respectively.
Countries that invest in ICT to transform transportation and energy use benefit in the short-term by producing the jobs and economic growth required during the current economic downturn, but they also anticipate substantial long-term economic and social benefits.
To achieve these benefits, the Government could utilize a mix of tools at its disposal, including tax credits, grants, and regulatory changes to spur private investment in these infrastructures. Government-sponsored grant programs can also fund initiatives for broadband, smart grid and intelligent transportation systems.
Many of the perceived benefits will result from infrastructure being in place in the first instance. Thus improved broadband infrastructure creates jobs by increasing business productivity and helping to develop new industries and services which require greater data speeds.
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