Renewable energy will grow more significant by 2030

Renewable energy sources have been gaining popularity over the past few years, and the trend seems likely to continue as technology improves. A recent Bloomberg study revealed between 69 and74 percent of global energy will be from renewable sources by 2030. As the field grows, firms will need workers with highly specialized skills, and they may want to consult renewable energy recruiters.

Bloomberg New Energy Finance predicted annual investment in renewable energy will increase by 230 percent by 2030, which amounts to $630 billion per year. As more money is spent on development of renewable energy sources, the costs will likely go down. 

"The news right now is dominated by stories of pain caused by overcapacity on the supply side of clean energy and the lure of cheap shale gas," said Michael Liebreich, chief executive of BNEF. "But this is playing out against the falling costs of renewable energy and all the technologies required to integrate it into our energy system, and falling costs win. What is suggests is that we are beyond the tipping point toward a cleaner energy future."

Alternative energy sources are already growing in importance, according to The Wall Street Journal. Hydropower currently provides 16 percent of global energy, which is a higher percentage than nuclear power and a larger share than all other renewable sources combined. Solar and wind power have experienced rapid growth in the past decade, but both are still in development stages. 

The renewable energy industry will experience significant growth
Specific alternative energy sources will most likely vary by region as some locations may be better equipped to supply some types of energy over others, The WSJ reported. However, unlike traditional energy like gas, oil and coal, renewable sources can be produced in every state in the U.S.

BNEF said the 2030 forecast is 35 percent higher than the predictions made one year ago. The results go against recent reports of a downturn in clean energy. Renewable technologies are expected to continue playing a significant role in world energy decisions. The study noted sources like hydropower, geothermal and biomass will be important, as they're expected to provide grid stability and give a variety of options. Further investments in solar and wind will allow these technologies to become more commercially available.

As energy sees major projections for growth in the next 15 years and with energy technology changing constantly, firms in the industry may already be expanding. These companies can seek the services of renewable energy recruiters to fill new positions. 

×