After the Fukushima meltdown in March 2011, German Chancellor Angela Merkel announced that Germany would decommission all its nuclear power plants and aim to rely primarily on renewable sources of energy. Germany has lots of coal but no oil.
The eyes of the world are on Germany today; and mine too. Because New Jersey, with it long coastline and relatively shallow depths offshore could be an ideal setting to build an entire new industry of energy for the future. For a relatively long term, the green energy industry of New Jersey would have to be partnership of both public and private concerns because, as of today, at least nominally, green energy can be a bit more expensive to generate than electricity generated with conventional fossil fuels or nuclear.
But of course we are not counting the nuclear waste, the CO2 and other emissions, their effect on healthcare costs, and that green energy higher price tag is mostly caused by being high-maintenance. That means jobs with very good wages for New Jersey. Most industry analysis are skewed in favor of the nuclear and fossil fuels plants. But a comprehensive view of energy generation and its by-products would show that, in both mid and long term, renewable forms of energy generation are more economical. And they are sustainable.
Germany has already created 370,000 good paying jobs and that is just the beginning.
As we pursue the revitalization of the industrial sector in New Jersey, I foresee an important niche for renewable energy.