By David Heberling, Policy Intern
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However, not all
the news from start of the year has been negative. Some very positive records
are being set right alongside some of the most alarming. Building on the
progress from last year, the energy sector has seen
unprecedented job gains in the advance towards a renewable future. According to
the International Renewable Energy Agency’s (IRENA) Renewable Energy and
Jobs – Annual Review 2016, renewable energy employment continues to top the numbers from previous years. As
of 2015, over eight million individuals work in the renewable energy sector worldwide.
This represents a 5% increase over the employment of 2014. This figure stands
in stark contrast to the oil, gas, and coal industries, which saw a general
decline in 2015. While the surge in renewable jobs is a multi-faceted movement,
the Director-General of IRENA points towards a reduction in the price of tech
and the adoption of pro-renewable tax credit policies by leading nations as
important contributing factors. The two main sectors of growth within the
renewable energy industry are the addition of new jobs and the increase in
renewable energy generation. These two are closely related. As more jobs are
added, more installations occur, and more energy is generated. Alternatively,
as renewable development
becomes lucrative and more projects are proposed, more jobs are generated to
build the new projects. Thus, despite their clear relation, the growth in
renewable jobs and new renewable generation are distinct and warrant separate
examination
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Related to the boom in renewable employment, renewable generation has
increased its share of total generation. Renewable generation in the first quarter of 2016 is up
over 14% from the first quarter of 2015. This growth also represents a 3%
increase in the portion of total U.S. energy generation made up by renewables. Now, renewable energy accounts for 17% of the
total energy produced in Q1 of 2016, versus 14% in Q1 of 2015.
In the face of such rapid economic growth and success, even big names
in conventional fossil fuel generation have begun to read the writing on the
wall. The United Arab Emirates, a major oil producing country, has set ambitious goals to employ 90,000 people in renewables by 2030. This growth will be
driven by the two large solar photovoltaics manufacturing projects already in
place, and the goal to have rooftop solar for every building in Dubai by 2030.
Shell Oil has also apparently realized which way the winds are blowing,
recently deciding to develop a renewable energy division to capitalize on the emerging markets.
A continued
dedication to the growth of the renewable energy sector is needed if we expect
the coming years to be as positive as 2015. The historic Paris Agreement helps to build investor confidence that the policies in place
fostering the renewable energy boom are long-term commitments. The favorable
tax policies and credits that renewable projects receive help insulate the
industry from the tumultuous nature of conventional fuel source markets.
Therefore, as a nation, we should look forward to the great green horizon and the
shift of our energy sector towards a more sustainable future.