Why work in the renewable energy sector?
The renewable energy sector offers the opportunity to contribute to the production of new and clean energy sources that ultimately help improve energy efficiency and reduce fossil fuel emissions.
Now more than ever we need to focus on the energy transition and, fortunately, the dream of a clean and environmentally sustainable world is slowly becoming a reality. Confirming this more than positive trend, a study published by the International Energy Agency (IEA) indicates that renewables will become the world's largest source of electricity generation by early 2025, overtaking coal. The share of renewables in the global energy mix is expected to increase to 38% by 2027.
The truth is that it is no secret that the industry is experiencing such abysmal growth and proof of this is the number of professionals who are joining this sector because of the great opportunities it offers.
In this post, we will discuss this topic with Anna Frangi, Recruitment Manager at Vector Renewables, with whom we will review some of the reasons why people from all over the world make this decision for their professional life.
As Anna points out, like many others who decide to take their first steps in this sector, this is a decision that she herself considered a few years ago during her recruitment process to join Vector Renewables. "Being a person focused on human capital search, I thought I could contribute and make a difference by recruiting the right people and accompanying them throughout their career development".
There are many reasons why you might choose to work in this sector, but here are a few of them:
1. Active player in the energy transition.
Working in a sector whose main objective is to benefit the planet we live on is of great value. In 2015, with the signing of the Paris Agreement, climate change was identified as a global emergency that went beyond national borders. This treaty set long-term goals for all nations and as its main purpose; to reduce greenhouse emissions to limit the global temperature increase this century to 2°C and strive to limit this increase to even more than 1.5°. Since then, all countries have developed energy policies covering many issues to achieve this ambitious goal.
2. Mature, dynamic and exciting sector
The renewable industry as we know it today is relatively recent, but it continues to evolve at an unstoppable pace. In the last few decades, we have seen how this sector, which used to include only a handful of players, has advanced at great speed, welcoming new players who are bringing solidity to the sector and playing a leading role in the change. New investments, more competitive prices, regulatory changes, and a maturity that makes it one of the sectors with the greatest potential for the coming years.
3. Digitalisation and new technologies
If there is one thing that characterises the renewable energy sector, it is the great commitment to digital tools and new technologies. New technological inventions are announced on a daily basis to make the day-to-day work of this sector safer and more competitive. Software for 24/7 monitoring of plant performance, module components made of more resistant and better performing materials, artificial intelligence that anticipates potential problems, as well as major bets on more effective and less polluting technologies, make this sector an industry at the forefront of such development. Vector Renewables, for example, has NUO. A digital tool that has been developed in-house with the experience of more than 10 years as Asset Managers, to improve productivity and increase the performance of the plants under management.
4. The numbers speak for themselves.
According to a study published by IRENA (International Renewable Energy Association), in 2021 the renewable sector will have more than 12.7 million jobs worldwide. The report also points out that employment in renewables has increased from 7.3 million people in 2012 to 12.7 million in 2021. This growth is estimated to be small compared to the 38 million professionals expected to be employed by 2030 if investment in renewables continues to grow in line with forecasts. All in all, jobs associated with the energy sector would total 139 million worldwide, including more than 74 million in energy efficiency, electric vehicles, storage systems and hydrogen.
5. International sector and economic driver in many countries
Although fossil fuels are gradually being phased out, they still account for a considerable share of energy production in many regions of the world. For this reason, a long list of countries has joined forces to strive for a common goal and to achieve very specific targets in the coming years. This has led to the merger of major players operating globally and developing renewable energy projects in many different parts of the world. Let us not forget that renewables can also help countries build resilience to price volatility and lower energy costs, which is especially important as rising fossil fuel costs weaken poorer energy-importing countries.
Every year the RECAI (Renewable Energy Country Attractiveness Index) report is published, which draws up a list of the 40 most attractive countries for investment in the renewables sector. According to the 2023 edition, the top 5 are, in this order, the United States, Germany, China, the United Kingdom and France.
6. Present in our daily lives.
Sustainability, the concern to do away with fossil reserves and the commitment to renewable sources has become part of our everyday discourse. Regardless of the profession, companies are increasingly aware of the need to raise awareness of the efficient use of energy and adopt ESG (Environmental, Social and Governance) practices to reduce their impact on the planet. Self-consumption in homes, energy communities, electric cars, the commitment to green hydrogen or the signing of Corporate PPAs by the world's best-known brands (IKEA, McDonalds, Amazon, Nestle, Google...) are the order of the day. A few years ago, we saw renewable energies as something of the future, now they are the present.
Vector Renewables has been an active part of many of the changes that have taken place in the renewables sector. With a worldwide presence and offices in a large number of countries, Vector Renewables independently advises a wide range of clients through its three business lines, Technical Advisory, Asset Management and Legal Advisory.
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