Renewable Energy Will Fuel America’s Future

Renewable Energy Will Fuel America’s Future

Renewable Energy is experiencing a period of quiet yet rapid growth in the US. Consumers and utility companies alike are taking advantage of emerging opportunities in the sector, and directing the future of the Energy industry towards Renewables. In the utility, urban and domestic spheres, Renewable Energy is becoming the driver for change in the sector. Individuals equipped with expert knowledge in market trends have the ability to position themselves at the forefront of this revolution. Momentum is on the side of Renewable Energy in the US. Following years of steady growth, 2018 was a record-setting year for the sector. Companies purchased a record 6.43 gigawatts (GW) of energy from renewable sources, enough to power more than 1.5 million American homes each year and more than double the previous record of 3.22 GW. Demand for clean, green energy is clearly increasing and prevalent, and the transition to Renewable Energy is fully underway. With investment into the sector increasing, professionals with expert knowledge of the industry are able to take advantage of the latest opportunities and developments. The Wind sector is experiencing rapid growth, with Market Trends indicating that 10.9 GW of power will be added to the power sector in 2019. 99 cities in the US have committed to 100% Renewable Energy; and local, state and federal authorities are looking for help in choosing the correct Renewable Energy projects for their needs. Even large utility companies, such as Xcel Energy, are committed to becoming carbon-free by 2030.

“In the utility, urban and domestic spheres, Renewable Energy is becoming the driver for change in the sector.”

A number of incentives, government policy and support schemes are also in place for the growth of the Renewable Energy industry. New York’s Reforming the Energy Vision (REV) program, for example, ensures 50% of New York State’s electricity will come from renewable sources by 2030. It aims to support consumers and create new jobs and business opportunities in the sector. Meanwhile, the Regional Greenhouse Gas Initiative (RGGI) has issued a limited number of tradable CO2 allowances, distributed via auction. These allowance auctions generate proceeds, which states are able to invest in strategic energy and consumer benefit programs. Programs funded through RGGI have included energy efficiency, clean and renewable energy, greenhouse gas abatement, and direct bill assistance. This growth is also set to increase employment opportunities in the US. The U.S. Bureau of Labor Statistics has stated that the top 2 occupations predicted to grow the fastest in the next 10 years are both Renewable Energy based. According to the International Renewable Energy Agency, the number of jobs in the Renewable Energy industry in the US has now risen to 786,000; an increase of over 150,000 in only 4 years. Knowledge of Renewable Energy Market Trends, financing tools and deal structuring is now key to progressing a career in the sector. With the number of career opportunities for individuals increasing, the REI has introduced the Renewable Energy Market Trends and Finance course to help professionals progress their career in the Renewable Energy industry and give them the tools to succeed in this rapidly growing sector.

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