Renewable energy jobs grow as oil employment stalls
Renewable energy industry provides jobs to more than 8.1 million people worldwide, according to a report released today by the International Renewable Energy Agency (IRENA). With a five per cent rise from last year’s figure, the industry is showing a positive growth even as employment in the broader energy sector falls.
“The continued job growth in the renewable energy sector is significant because it stands in contrast to trends across the energy sector,” said IRENA Director-General Adnan Z. Amin in the report, Renewable Energy and Jobs – Annual Review 2016.
“This increase is being driven by declining renewable energy technology costs and enabling policy frameworks. We expect this trend to continue as the business case for renewables strengthens and as countries move to achieve their climate targets agreed in Paris.”
Amin further said that as the ongoing energy transition accelerates, growth in renewable energy employment will remain strong.
“IRENA’s research estimates that doubling the share of renewable energy in the global energy mix by 2030 – enough to meet global climate and development targets – would result in more than 24 million jobs worldwide.”
The countries in the region have rolled out their strategies to tap the opportunities in the market of what is being billed as the future energy.
According to IRENA, the region is set to attract $35 billion worth of renewable energy investments every year by 2020.
The UAE has been ramping up its efforts to diversify energy sources and has plans to invest $35bn in clean energy projects by 2021.
As pledged at the Paris conference, the government has begun to implement impressive projects towards a green economy.
It has pledged to increase clean energy’s share of the national energy mix from 0.2 per cent in 2014 to 24 per cent by 2021.
Dubai launched the $27.2 billion Dubai Clean Energy Strategy 2050, which aims to provide seven per cent of the emirate’s energy from sustainable sources by 2020, raising that to 25 per cent by 2030 and 75 per cent by 2050.
The emirate has also launched the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site solar energy project in the world. The solar park will produce 1,000MW by 2020 and 5,000MW by 2030 with a total investment of AED50bn.
Dubai has plans to have solar panels on all rooftops in the emirate by 2030.
“The UAE has always been a pioneering nation that has strived to reshape and define the future,” Dr. Nasser Saidi – former chief economist of the Dubai International Financial Centre (DIFC), and chairman of the Clean Energy Business Council (CEBC), said earlier thsi month.
“It transitions its own economy from oil into knowledge and investments it can become clean energy finance capital of the world by owning the conversation around the subject,” Dr. Saidi added.
Saudi Arabi and Qatar have also launched similar initiatives in the clean energy sector.