Opportunities in the Renewables Industry – 2022 Outlook

2022 is the year of Renewable Energy, and there has never been a better time to enter the sector. As highlighted at COP26 last year, governments around the world are heavily increasing funding for Renewable Energy projects. Nations have detailed ambitious climate targets, with decarbonisation and a reduction in greenhouse gas emissions at the forefront. The result of this worldwide effort is an injection of funding and increased demand for trained Renewable Energy personnel. The REI delves into these opportunities in the industry with an outlook for 2022.

“Wind power output is expected to increase drastically this year. Wind farm installations will double to record levels globally, and offshore wind finance is expecting a significant boost, with £6 billion being invested across the UK’s Yorkshire coastline.”

Wind, Solar and Storage

According to S&P [1], large-scale solar and wind projects are set to hit new heights in 2022. Roughly 44GW of solar power will come online this year, almost double the 23 GW seen in 2021. This is largely due to the exponentially decreasing cost of solar power. As technology has improved and materials have become cheaper, solar projects are more accessible than ever. There is expected to be over 20% growth globally in solar photovoltaic installations throughout 2022 [2]. 

Wind power output is expected to increase drastically this year. Wind farm installations will double to record levels globally [3], and offshore wind finance is expecting a significant boost, with £6 billion being invested across the UK’s Yorkshire coastline [4].

Of course, with energy output from wind and solar expected to increase, there needs to be significant infrastructure in place to contain it. The US alone will be installing 8GW of energy storage in 2022, roughly six times more than the previous record in 2020 [5].

Hydrogen

In December 2021, the European Commission published a Hydrogen and Decarbonised Gas Package to ensure the development of a global hydrogen market by 2030. Hydrogen Europe’s CEO declared this the “Golden Age of Hydrogen” [6]. This package will ensure that Hydrogen energy is at the forefront of Europe’s net-zero ambitions and that substantive financial support will be given to its green infrastructure. The UK government itself is launching a £240 million Net-Zero Hydrogen Fund, and is aiming to produce 5GW of low-carbon hydrogen before 2030 [7].

“The number of individuals employed in the Renewable Energy sector reached over 12 million towards the end of 2021, and that number is only set to increase as the global demand for Renewable technologies grows.”

Electric Vehicles

Electric vehicle adoption is increasing globally year on year. Throughout 2021, Europe’s EV share of total new registrations rose to 17%, roughly double compared to the same period in 2020. [8] It is estimated that this number could tip 20% in 2022. This comes as the EU recently proposed legislation to cut co2 emissions from combustion engine cars by 55% [9]. Globally, S&P predicts that electric vehicles will make up between 7-10% of total annual sales over 2022, as EV usage becomes more popular, and incentives are introduced to encourage their purchase.

Renewable Energy Management and Finance

With the role of Renewable Energy becoming increasingly central to all types of business, and the landscape of government support shifting; corporations, SMEs and individuals need up-to-date, expert training to navigate these areas and take full advantage of new emerging opportunities. The number of individuals employed in the Renewable Energy sector reached over 12 million towards the end of 2021 [10], and that number is only set to increase as the global demand for Renewable technologies grows. Management positions in Renewable Energy will certainly increase in demand as these global projects continue and expand.

Naturally, as Renewable Energy projects increase globally, finance management is required to plan, oversee, and execute them to budget. Investment in renewables is expected to exceed $15 billion across 2022, according to the Union Minister for Power and New Renewable Energy [11]. Individuals with knowledge in financial management in relation to Renewable Energy projects will be in higher demand than ever before to supplement this investment.

Renewable Energy Opportunities

There has never been a better time to expand your knowledge and gain the necessary skills to move into the Renewable Energy sector. This rapidly expanding industry requires individuals with experience and relevant skills, both in the UK and overseas. All positions, from engineers, to consultants and managers are needed globally to support the endless growth opportunities within the industry. Don’t miss out on your opportunity to join the green revolution happening throughout 2022 and beyond.

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The Renewable Energy Institute’s Accredited Expert Certificates provide you with the knowledge and training required to take advantage of opportunities in the Renewable Energy industry and advance your career in 2022.

For more extensive training, register for the Institute’s 13-course Accredited Master in Renewable Energy Award, and gain comprehensive training to upskill and progress your career in the industry.

“This course was very interactive with clear delivery from the lecturer, to serve as a basis for a career change into Renewables.”

BBC – Ben Yankson

To kickstart your career and take advantage of these incredible opportunities within the Renewable Energy industry, start studying one of the Institute’s Accredited Expert Certificates today. For even further expert training, find out more about our Accredited Master in Renewable Energy Award.

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[1] https://www.cnbc.com/2021/11/10/2022-will-be-a-record-year-for-wind-and-solar-new-report-finds.html

[2] https://renews.biz/73660/global-solar-installations-to-grow-20-in-2022/

[3] https://www.theguardian.com/environment/2021/sep/09/global-windfarm-installations-expected-to-surge-after-covid-drop-says-report

[4] https://www.power-technology.com/projects/hornsea-project-one-north-sea/

[5] https://www.cnbc.com/2021/11/10/2022-will-be-a-record-year-for-wind-and-solar-new-report-finds.html

[6] https://hydrogeneurope.eu/2021/12/15/the-golden-age-of-clean-hydrogen-has-started/

[7] https://fuelcellsworks.com/news/hycap-hydrogen-2022-the-year-ahead/

[8] https://www.eea.europa.eu/ims/new-registrations-of-electric-vehicles

[9] https://www.consilium.europa.eu/en/policies/green-deal/eu-plan-for-a-green-transition/

[10] https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_823759/lang–en/index.htm

[11] https://economictimes.indiatimes.com/industry/renewables/brighter-days-await-renewable-energy-space-investments-likely-to-cross-usd-15-billion-in-2022/articleshow/88468211.cms