U.S. Senate climate legislation unveiled last week would spark multi-billion-dollar investments into overhauling the energy sector, adding some 200,000 jobs per year over the next decade in the construction of new power plants and through greater demand for biofuels, according to new study.

After 2025 jobs in the field would slow down, found the Peterson Institute for International Economics.

But between 2011 and 2020, the bill will spur job creation because of its mandatory limits on greenhouse gases, which will prompt $41.1 billion in investments per year as the Unites States shifts away from traditional fossil fuels like coal and oil and toward new nuclear power and renewable energy sources. That amount is more than half of what the nation would otherwise invest in the electricity sector.

The study is the first comprehensive effort to break down the economics behind the Senate bill, which was only proposed last week.

The bill would prompt a significant reshuffle in U.S. energy supplies thanks to its greenhouse gas caps and many other complimentary policies, including stronger vehicle efficiency and renewable energy standards, the Peterson Institute report found.

It also says  fossil fuels would fall from 84 percent of the current U.S. energy supply down to 70 percent in 2030, while renewables and nuclear energy would soar to 14 percent and 16 percent, respectively, up from their current 8 percent.