A Wind Proof Energy Industry in a Looming Recession?
The winds of change are blowing through the UK economy, and they're sending wind turbines spinning into overdrive. As beleaguered consumers face mounting energy bills, alternative energy and renewable sources are being taken far more seriously than ever before. The global financial crisis has made every country look hard at their books, and the figures just aren't adding up. This time, it's serious. Business knows that one of the biggest factors in the current crisis is the cost of energy, so for many economies, it's back to the drawing board.
Luckily, that drawing board is littered with new forms of renewable technology that will contribute a significant factor to the reduction of energy costs, not only for businesses but for consumers as well. Faced with a choice of continually rising gas and electricity prices, the public is demanding that energy producers look to more sustainable methods of production, not only to stabilize costs, but also to maintain a dependable supply of energy into the future. However, consumers aren't just depending on the providers to help them cut their energy costs. They're being frighteningly pro-active themselves. Sales of insulation materials, for example, have risen sharply as people try to cut their heating costs and reduce their carbon footprint.
But looking at alternative forms of energy production isn't just good for the planet or for the public's wallets. It's good for jobs too. Investment in green technology and renewable energy is essential if governments want to avoid recession, according to a report from Deutsche Asset Management (DeAM). DeAM published a recent study calling on all governments to prioritize green technology as a means to combating a continuing downward economic spiral. Rather than cutting back on the efforts to reduce carbon emissions because of the recession, DeAM sees investment in cleaner energy sources as a positive way to combat financial insecurity in the worldwide markets. Mark Fulton, Head of Climate Change Investment Research at DeAM, said: "The current crisis is making the necessity of tackling climate change an opportunity to stimulate growth through investment opportunities."
If countries rally to this call, it could mean a boon time for renewable energy jobs in particular and energy jobs in general. As energy companies seek out more left-of-field solutions, those with the qualifications and experience in environmental engineering will find opportunities for jobs in energy sectors opening up. This is backed up by the Prime Minister Gordon Brown, who made a commitment to promoting alternative energy sources at a recent British Wind Energy Association conference. He said that sticking to climate change goals would create 160, 000 jobs and a renewables market worth 100billion. Suddenly, alternative energy careers seem more attractive, as both governments and the public begin to realise how crucial a role they will play in the economy over the next fifty years.
Long term investment in renewable energy is essential for a healthy and vibrant economy, and that investment will inevitably lead to an increase in demand for skilled workers looking for jobs in energy sectors. Whilst the traditional energy producers will continue to operate for a very long time to come, the new, environmentally friendly kids on the block are making significant inroads into an industry that's ripe for change.
