Together with the COVID epidemic, the recession that struck the US and global economy was severe and devastating. It was the most severe and quickly spreading recession to hit the United States since the Great Depression.
While helping a nation transition to a green energy economy, Solar Energy Jobs also present a wonderful chance to reduce poverty in rural regions and spark a surge of entrepreneurship wherever solar power takes root.
Even after a challenging 2020, the sector has expanded significantly overall and become much more varied. Since 2015, the industry’s overall employment growth has increased by 11%. More impressively, since then, there has been a 92% rise in the number of Latinx employees in the solar business, a 73% increase in the number of Black workers, and a 39% increase in the number of women workers.
In other words, the solar workforce is expanding. It is becoming increasingly accessible to historically marginalized groups, which is a crucial first step in creating a new economy that will undo the system’s ingrained injustices.
The expansion of union participation in the sector, which now stands at more than 10%, is another encouraging development.
This is greater than the 6.3% unionization rate for American workers in the private sector. Significantly greater than the 3% unionization rate in gas extraction and the 2% unionization rate in oil extraction, this is equal to the 10% unionization rate in coal-fired power generation.
Solar Energy Jobs future
In contrast to fossil fuels, the future of Solar Energy Jobs appears to be far more promising.
According to Dr. Robert W. Gilmer of the Bauer College of Business at the University of Houston, “oil is going to be a smaller business in the U.S.,” who blames the sector’s long-term downfall on its “own history of one financial crisis after another.”
It’s realistic to predict “a permanent loss of rigs and employment that has nothing to do with the business cycle,” he claims, “even based on strictly financial reasons, and not taking into account the requirement to phase down oil and gas production to address climate change.”
In other words, the employment lost in the oil and gas business are probably “jobs that never return,” regardless of how the general economy and oil prices fluctuate.
Finally, there is climate change and greenhouse gas emissions, which is obviously the biggest issue. A habitable future for mankind and a prosperous future for the oil and gas sector are irreconcilable.
They have a clear option as the incoming administration and Congress implement infrastructural and economic stimulus initiatives to recover from the COVID slump.
Profiting from a Global Crisis
Even though the COVID-19 epidemic started more than a year ago, there are still a lot of new things scientists and specialists are learning about its propagation and transmissibility virtually every day. But it is abundantly evident that technology has had a significant influence on our society, economy, and almost every area of our lives.
In comparison to other wealthy nations like the United States, Israel faced the second-highest rate of unemployment as a result of the coronavirus epidemic, according to the OECD’s Employment Outlook 2020 Report. In the case of a second wave, the analysis also forecast that the country’s unemployment rate will increase.
According to the World Economic Forum’s 2020 report on the Future of Nature and Business, the shift to a green economy has the potential to create $10 trillion in annual business possibilities and 395 million new employment globally by 2030.
Taking on three issues at once
During this worldwide epidemic, investing in renewable energy sources and developing a green labour market can help us address three issues at once: reducing the climate catastrophe, enhancing the security of our infrastructures, and adding more employment to the labour market.
For instance, there are currently approximately 3 million green employment in Italy. These include professions that are in great demand in Italy, such as green building and planning, engineers who specialize in renewable energy, and cooks who use local, organic, and raw products.
Thinking a Long Way
Some contend that continuing with business as usual would help the economy in the near term and that we should make investments in the fossil fuel-based energy sector at least until mass-produced technology advancements and significant investments may save us from the climate problem.
However, green governance and a variety of technical advancements are reducing the demand for fossil fuel energy, which is predicted to impact the biggest exporters of fossil fuel energy as early as 2035 in the US, Russia, and Canada.
A lot of poor nations have already committed recovery funding to eco-friendly initiatives, including clean water infrastructure, low-carbon transportation systems, and the restoration of natural systems. Opportunities in a green workforce such as Solar Energy Jobs will increase as more and more countries commit to making significant cuts in greenhouse gas emissions by the middle of the century.