A recent study published by the Global Wind Energy Council (GWEC) found that up to 3.3 million new jobs could be created across the globe in the next five years amid the ongoing wind industry expansion.
The figure accounts for direct employment opportunities in both offshore and onshore wind farms, as well as the industry’s entire chain, including manufacturing, project planning, installation, development, operation, maintenance, as well as decommissioning. The jobs would contribute to an industry that is expected to install an additional 470 gigawatts (GW) of offshore and onshore capacity before 2025.
A large portion of the jobs are expected to be created in high-growth economies, including the US, China, India, Germany, UK, France, Spain, Brazil, Sweden, Taiwan, and South Africa. “The wind industry has a strong track record of creating high-quality and long-term jobs and reviving communities through an array of industrial opportunities,” GWEC CEO Ben Backwell said. “As the world still reels from the economic impacts of the Covid-19 pandemic, governments must look to the wind sector as a key industry to create the jobs they need to get their economies back on track,” he continued.
According to data published by the International Renewable Energy Agency, there is more than 751 GW of wind capacity installed around the world, which has created almost 1.2 million employment opportunities to date. Some of the largest countries in terms of wind energy production are responsible for hundreds of thousands of jobs directly related to the wind industry. A recent survey conducted by GWEC Market Intelligence found that there were about 550,000 workers employed in China’s wind energy production, 260,000 in Brazil, and 115,000 in the US.
Information for this briefing was found via GWEC and the International Renewable Energy Agency. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.