Renewable Energy Career Outlook 2024

As the world grapples with the pressing challenge of climate change, the renewable energy sector has emerged as a beacon of hope, offering a promising pathway towards a sustainable future. The year 2024 is poised to witness an unprecedented surge in renewable energy careers globally, driven by a convergence of factors, including government policies, technological advancements, and an unwavering commitment to environmental stewardship.

A Worldwide Surge in Renewables

The combined forces of government investments flowing into clean energy and decarbonisation demand from public and private entities across the globe have set the stage for a takeoff across renewable technologies, industries, and markets. Countries around the world have implemented various policies and incentives to accelerate the deployment of established and emerging renewable technologies, with significant impacts anticipated in solar and storage.

The International Energy Agency (IEA) projects that global renewable electricity capacity will increase by around 8% in 2024, with solar PV accounting for 60% of the increase. The agency also expects renewable power to account for over 90% of new global electricity capacity additions in 2024, driven by policy support and rising cost-competitiveness [1].

Regulatory Landscape Shaping the Industry

As the renewable energy sector expands globally, regulatory frameworks play a pivotal role in shaping its trajectory. Many countries have implemented policies and incentives to promote the growth of the renewable energy industry, including tax credits, feed-in tariffs, and renewable portfolio standards.

The European Union's Green Deal and the United States' Inflation Reduction Act (IRA) are among the most significant policy initiatives driving the growth of the renewable energy sector globally. These policies aim to support the development of renewable energy technologies, such as solar, wind, and green hydrogen, and promote the transition towards a more sustainable energy future.

Reshoring and Domestic Manufacturing Boost

A global trend towards reshoring and domestic manufacturing of clean energy components is underway, as countries seek to capitalise on incentives and reduce dependence on imports. This trend is expected to shorten supply chains, increase transparency and resilience, decrease emissions, and reduce exposure to geopolitical shifts.

The solar industry is witnessing substantial growth in domestic manufacturing capacity, with several countries announcing plans to establish or expand production facilities. The wind and energy storage sectors are also experiencing similar trends, driven by the desire to localise supply chains and benefit from tax incentives and policy support.

Workforce Reskilling and Development

Unlocking the talent bottleneck is crucial to achieving decarbonisation goals worldwide. Sustaining a global buildout of renewable energy infrastructure and domestic supply chains will require growing and retraining a workforce with in-demand skills. Massive job growth is expected across various sectors, coupled with skills gaps in areas such as electrical engineering, manufacturing processes, computer science, tooling, mechanical engineering, automation, and machining.

Many countries are investing in workforce development programs and apprenticeships to address these skills gaps and ensure a steady supply of qualified professionals for the renewable energy industry. Collaboration between governments, educational institutions, and industry stakeholders is essential to develop comprehensive training programs and upskilling initiatives.

Renewables as a Resilience Strategy Globally

Increasingly, renewables coupled with energy storage are becoming a resilience strategy for countries and regions around the world. Extreme weather events and power outages have demonstrated the vulnerability of traditional fossil fuel-based energy systems, highlighting the need for more resilient and sustainable solutions.

Renewable energy sources, such as solar and wind, combined with energy storage technologies, offer a reliable and clean alternative to traditional power generation methods. By diversifying their energy mix and incorporating more renewable sources, countries can enhance their energy security, reduce their carbon footprint, and mitigate the risks associated with climate change.

Innovative Technologies Redefining Renewables

Innovative technologies are transforming renewable capabilities, synergies, and deployment potential globally. Geothermal energy, renewable natural gas, and advanced energy storage systems are among the emerging technologies that are gaining traction, offering new opportunities for growth and innovation.

Enhanced geothermal systems have expanded the potential to capture the heat of the earth, while renewable natural gas project development has accelerated to meet growing demand for sustainable energy sources. Additionally, advancements in energy storage technologies, such as lithium-ion batteries and flow batteries, are enabling the integration of intermittent renewable energy sources into the grid, enhancing reliability and flexibility.

On the Horizon in 2024 and Beyond

As massive public and private investments pour into the global clean energy transition, the renewable energy sector is poised for remarkable growth in 2024 and beyond. Solar and storage deployments are expected to continue soaring, onshore wind to recover, and residential and offshore wind technologies to gain momentum.

Challenges remain, including financing gaps, technologies yet to reach commercial scale, and the need for modernised and resilient grid infrastructure. However, the commitment of governments, industries, and individuals to a sustainable future is driving innovation and progress in the renewable energy sector.

Conclusion

The renewable energy sector is poised for remarkable growth globally in 2024, presenting a myriad of career opportunities for professionals across various disciplines. From solar and wind energy to energy storage and green construction, the industry is at the forefront of the global transition towards a sustainable future.

As the world intensifies its focus on sustainability and combating climate change, the renewable energy sector offers a promising pathway for individuals seeking to contribute to a cleaner, more resilient environment. With the support of government policies, technological innovations, and a skilled workforce, the renewable energy industry is set to play a pivotal role in shaping our planet's future and driving the global energy transition.