Potential 10 million jobs from upcoming renewable energy projects

Potential 10 million jobs from upcoming renewable energy projects
According to a newly published study, 13,000 renewable energy projects globally are at the construction-ready stage, with the potential to create up to 10 million jobs in the near future.

Specifically, the European Climate organization commissioned EY (Ernst & Young) to conduct a global study showing that 13,000 renewable energy projects globally are at the construction-ready stage. investment opportunity value up to 2 trillion US dollars. These projects can contribute up to 1 Terawatt (1,000 GW) of renewable energy capacity.

“This new report highlights the real potential to accelerate investment in the private renewable energy sector through the adoption of policies and practices,” said Serge Colle, head of EY's global energy division. leading government regulatory framework through global collaboration between governments and private organisations. This multi-country report weighs in on the tiniest elements, mapping investable projects that are ready to go into construction to advance towards the goal of green recovery.”

13,000 renewable energy projects are about to be implemented potentially creating 10 million jobs

These existing projects have the potential to create up to 10 million jobs locally and throughout the supply chain. The study was carried out in 47 countries and thus shows only a fraction of the overall larger-scale employment opportunities globally. Furthermore, these projects will help the 47 countries mentioned in the report achieve their 2030 emission reduction targets.

In addition to this global study, there are three national in-depth studies of the UK, Turkey and South Africa.

In the UK, green energy offers great potential for economic growth as well as sustainable job creation, especially in the North of England and Scotland. Current projects include 540 projects, mainly solar and wind projects, with the potential to create up to 440,000 job opportunities. The total number of projects will increase to 668 and the total number of jobs will increase to 625,000 as storage, transmission and distribution projects are implemented, reducing the number of jobs lost due to the COVID-19 pandemic by 90%- 19.

In South Africa, 184 construction-ready projects have been identified with a total capacity of 10.3 GW that will enhance energy security, add 18% of capacity and have the potential to generate up to 100,000 local jobs in construction, installation, operations and maintenance, along with 53,000 other supply chain job openings.

In Turkey, there are 238 renewable energy projects with a capacity of 11.9 GW, providing investment opportunities worth $27 billion that will help create 110,000 more job opportunities. This will boost Turkey's economic growth, providing an opportunity to establish a robust renewable energy supply chain with the potential to create industrial clusters in the region to upgrade the transition regions from energy to energy. specific amount of coal.