New Jersey stands to gain an average of $1.3 billion in economic activity and 11,000 new jobs annually if the state accelerates efforts to transition to clean energy by 2050, according to two studies by the Applied Economics Clinic.

Between 2025 and mid-century the growth in clean-energy jobs will be more than the job losses in gas-fired power plants and oil-heating businesses, the studies said.

The studies generally portray powerful economic benefits if the Murphy administration pursues its goal to switch to 100% clean energy by 2050, a policy questioned by some segments of the business community that claim it will spike already high energy bills in New Jersey. Read More from NJ Spotlight News.