The Silicon Valley Smart Grid Task Force co-chairs—the Silicon Valley Leadership Group, the City of San Jose, and Pacific Gas and Electric Company (PG&E)—have released the findings of a new economic analysis of the smart grid conducted by Collaborative Economics.

San Jose Mayor Chuck says that a central tenet of the city’s “Green Vision is that clean technologies are the economic drivers of the future. This report shows that the future is now and that the smart grid has already begun creating jobs in Silicon Valley.”

The study found that the number of smart grid-related firms grew 138 percent from 1995 to 2009, and the number of jobs grew 129 percent in Silicon Valley, maintaining strong local growth even during the economic downturn that started in 2008. Additionally, employment data indicate that Silicon Valley’s economy is recovering at a faster rate than both California and the nation, suggesting that growth related to the smart grid should be expected to continue.

Carl Guardino, Silicon Valley Leadership Group President and CEO, observes, “For decades, Silicon Valley has been on the forefront of new technologies. Increasingly, those new technologies touch the smart grid, and Silicon Valley is reaping the economic benefit of these advances.”

PG&E President Chris Johns believes, “Investment in the smart grid by PG&E and other utilities nationwide is good for customers, good for Silicon Valley jobs, and good for the Bay Area economy. The smart grid is a part of PG&E’s commitment to delivering safe, reliable and affordable energy to our customers.” PG&E will complete its deployment of nearly 10 million gas and electric Smart Meter technology in 2012.

The study’s lead author and Collaborative Economics vice president, Tracey Grose, adds: “The national roll-out of the smart grid will not just drive growth in the broader Bay Area directly related to smart grid technologies. The implementation of these systems will produce huge new volumes of data that must be processed, stored and analyzed. Therefore, smart grid will also drive demand for IT products and services, Silicon Valley’s key sectors.”

The Silicon Valley Leadership Group was established to address public policy issues affecting the economic health and quality of life in Silicon Valley.

San Jose’s Green Vision is a 15-year initiative to solve environmental problems and grow the local economy through Clean Tech Innovation, Sustainability, and Green Mobility. For more information, visit www.sanjoseca.gov.

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