Renewable energies boost economic growth and employment

Renewable energies offer major benefits in terms of employment and the fight against climate change, generating almost 13 million jobs worldwide. Despite these benefits, investment remains insufficient, leading to an increase in the number of people without electricity, while fossil fuels continue to receive far greater funding, depriving citizens of development gains.

Partagez:

Solar, wind… renewable energies are already generating nearly 13 million jobs worldwide, according to the REN21 think tank, which nevertheless deplores the fact that investment in these energies remains insufficient despite their social benefits.

Renewable energies: a solution for accessing energy, reducing costs and combating climate change.

“Due to inflation, energy costs or lack of vision”, the number of people without electricity is set to rise in 2022, for the first time in a long time, by 20 million to a total of some 774 million, mostly in sub-Saharan Africa, warns the report published on Wednesday, based on provisional data. In the wake of Covid and the energy crisis linked to the war in Ukraine, governments from the USA to the EU and Japan have launched plans to support renewable energies (RE).

“These measures open up remarkable prospects for economic growth and employment in the energy sector in the years to come”, notes the network of experts in this report devoted to the benefits of renewable energies (access to energy, reduced costs, health, fight against global warming…).

In 2021, more than 12.7 million jobs will be linked to renewable energies, according to REN21. In terms of qualifications, 70% of the workforce currently employed in the oil and gas sector has skills that are also in demand in green energies, the report points out.

In the EU, the objectives of the REPowerEU plan, which aims to move away from Russian fossil fuels, will require the creation of 3.5 million jobs by 2030. When the American plan (IRA) can generate nearly 5 million in energy, according to these estimates. India hopes to create more than 3.4 million new jobs in wind and solar power by 2030.

Investments in fossil fuels are depriving people of development gains, according to the REN21 report.

This country, which has imposed a tax on imports of photovoltaic cells, has a $3 billion plan to support domestic production of solar panels. And yet: while investment in renewable energies reached a record $495.4 billion in 2022, it is still a far cry from the $1,100 billion allocated to fossil fuels, notes REN21 in its report.

Developing countries, home to two-thirds of the world’s population, have benefited from just one-fifth of investment in renewables. In 2021, private banks provided 395 billion for fossil fuel projects, and 53 billion for renewable projects. As a result, 113 countries are still unable to provide access to electricity for all their inhabitants, and only 54 have set targets to improve this situation, according to the report.

“Despite the vast benefits of renewables, most countries and institutions continue to invest in fossils, including gas, depriving their citizens of potential development gains,” notes REN21 Director Rana Adib, quoted in the report.

The European Commission held a high-level dialogue to identify administrative obstacles delaying renewable energy and energy infrastructure projects across the European Union.
The European Commission held a high-level dialogue to identify administrative obstacles delaying renewable energy and energy infrastructure projects across the European Union.
Despite increased generation capacity and lower tariffs, Liberia continues to rely on electricity imports to meet growing demand, particularly during the dry season.
Despite increased generation capacity and lower tariffs, Liberia continues to rely on electricity imports to meet growing demand, particularly during the dry season.
South Korea's new president, Lee Jae-myung, is reviewing the national energy policy, aiming to rebalance nuclear regulations without immediately shutting down reactors currently in operation.
South Korea's new president, Lee Jae-myung, is reviewing the national energy policy, aiming to rebalance nuclear regulations without immediately shutting down reactors currently in operation.
The French Energy Regulatory Commission released its 2024 annual report, highlighting sustained activity on grid infrastructure, pricing, and evolving European regulatory frameworks.
The French Energy Regulatory Commission released its 2024 annual report, highlighting sustained activity on grid infrastructure, pricing, and evolving European regulatory frameworks.
The United States is easing proposed penalties for foreign LNG tankers and vehicle carriers, sharply reducing initial costs for international operators while maintaining strategic support objectives for the American merchant marine.
The United States is easing proposed penalties for foreign LNG tankers and vehicle carriers, sharply reducing initial costs for international operators while maintaining strategic support objectives for the American merchant marine.
While capital is flowing into clean technologies globally, Africa remains marginalised, receiving only a fraction of the expected flows, according to the International Energy Agency.
While capital is flowing into clean technologies globally, Africa remains marginalised, receiving only a fraction of the expected flows, according to the International Energy Agency.
The U.S. Department of Transportation is withdrawing strict fuel economy standards adopted under Biden, citing overreach in legal authority regarding the integration of electric vehicles into regulatory calculations for automakers.
The U.S. Department of Transportation is withdrawing strict fuel economy standards adopted under Biden, citing overreach in legal authority regarding the integration of electric vehicles into regulatory calculations for automakers.
In 2024, renewable energies covered 33.9% of electricity consumption in metropolitan France, driven by increased hydropower output and solar capacity expansion.
In 2024, renewable energies covered 33.9% of electricity consumption in metropolitan France, driven by increased hydropower output and solar capacity expansion.
The French Energy Regulatory Commission (CRE) has announced its strategic guidelines for 2030, focusing on the energy transition, European competitiveness and consumer needs.
The French Energy Regulatory Commission (CRE) has announced its strategic guidelines for 2030, focusing on the energy transition, European competitiveness and consumer needs.
Madrid paid an arbitration award to Blasket Renewable Investments after more than ten years of litigation related to the withdrawal of tax advantages for renewable energy investors.
Madrid paid an arbitration award to Blasket Renewable Investments after more than ten years of litigation related to the withdrawal of tax advantages for renewable energy investors.
The global renewable energy market continues to grow, reaching $1,200 billion in 2024, according to a report by the International Energy Agency (IEA), supported by investments in solar and wind energy.
The global renewable energy market continues to grow, reaching $1,200 billion in 2024, according to a report by the International Energy Agency (IEA), supported by investments in solar and wind energy.
The Québec government is granting $3.43mn to the Saint-Jean-Baptiste Electric Cooperative to deploy smart meters and upgrade infrastructure across 16 municipalities.
The Québec government is granting $3.43mn to the Saint-Jean-Baptiste Electric Cooperative to deploy smart meters and upgrade infrastructure across 16 municipalities.
New US tariff measures are driving up energy sector costs, with a particularly strong impact on storage and solar, according to a study by Wood Mackenzie.
New US tariff measures are driving up energy sector costs, with a particularly strong impact on storage and solar, according to a study by Wood Mackenzie.
Despite the proclaimed urgency, European climate investments stagnate around €500 billion per year, far from the estimated needs of nearly €850 billion. New financial instruments are attempting to revive an indispensable momentum.
Despite the proclaimed urgency, European climate investments stagnate around €500 billion per year, far from the estimated needs of nearly €850 billion. New financial instruments are attempting to revive an indispensable momentum.
African countries now spend more on debt service than on education and healthcare, limiting essential investments despite significant energy potential. The G20, under pressure, struggles to provide an adequate response to the financial and climate challenges.
African countries now spend more on debt service than on education and healthcare, limiting essential investments despite significant energy potential. The G20, under pressure, struggles to provide an adequate response to the financial and climate challenges.
Four renewable energy producers have been authorised to sell 400 MW directly to Egyptian industrial companies without public support.
Four renewable energy producers have been authorised to sell 400 MW directly to Egyptian industrial companies without public support.
A report by Ember shows ASEAN could supply nearly one-third of its data centres with wind and solar power by 2030 without storage, provided appropriate public policies are implemented.
A report by Ember shows ASEAN could supply nearly one-third of its data centres with wind and solar power by 2030 without storage, provided appropriate public policies are implemented.
Spanish authorities and grid operator REE denied conducting any experiment on the national electricity network prior to the massive outage on April 28, the cause of which remains unknown.
Spanish authorities and grid operator REE denied conducting any experiment on the national electricity network prior to the massive outage on April 28, the cause of which remains unknown.
Three trade trajectories projected by Wood Mackenzie show how tariff tensions could shift demand, prices and investment in the global energy sector.
Three trade trajectories projected by Wood Mackenzie show how tariff tensions could shift demand, prices and investment in the global energy sector.
The European Commission states the Union is on track to cut emissions by 54% by 2030, following updated national plans.
The European Commission states the Union is on track to cut emissions by 54% by 2030, following updated national plans.