Renewable Energy Supports 9.8 Million Jobs Worldwide

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Renewable Energy Supports 9.8 Million Jobs Worldwide

© Thinkstock

According to the International Renewable Energy Agency’s “Renewable Energy and Jobs – Annual Review 2017,” the industry supports 9.8 million jobs worldwide. The number seems small based on the breadth of an industry that is supposed to replace the bulk of traditional energy sources over time.

IRENA Director-General Adnan Z. Amin said:

Falling costs and enabling policies have steadily driven up investment and employment in renewable energy worldwide since IRENA’s first annual assessment in 2012, when just over seven million people were working in the sector. In the last four years, for instance, the number of jobs in the solar and wind sectors combined has more than doubled.

Renewables are directly supporting broader socio-economic objectives, with employment creation increasingly recognised as a central component of the global energy transition. As the scales continue to tip in favour of renewables, we expect that the number of people working in the renewables sector could reach 24 million by 2030, more than offsetting fossil-fuel job losses and becoming a major economic driver around the world.

Wal-Mart employees over 2 million people worldwide, in contrast to the size of what is supposed to be an exploding alternative energy growth industry.

[nativounit]

As would be expected, large countries account for the bulk of the jobs:

China, Brazil, the United States, India, Japan and Germany accounted for most of the renewable-energy jobs. In China for example, 3.64 million people worked in renewables in 2016, a rise of 3.4 per cent.

China, one of the world’s largest polluters, along with India, is notably absent despite its claims that clearer air is one of the government’s priorities.

Jobs in the industry are primarily in the solar, wind and biofuel businesses.

[wallst_email_signup]

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

HPE Vol: 153,197,465
ENPH Vol: 8,360,053
GLW Vol: 18,152,646
APTV Vol: 6,761,325

Top Losing Stocks

TTD Vol: 21,905,513
INTU Vol: 7,383,018
CTRA Vol: 73,319,495
CBOE Vol: 5,000,011
HP
HPQ Vol: 29,259,826