Deutschland : July 16, 2008

As employment in the fossil fuel sector declines, more people are finding work in the renewable energy sector and related professions. The number of “green jobs” is expected to swell considerably in the coming years, says a new study.

In Europe, the promise of millions of new jobs created by the so-called green economy has also been made by top EU officials. EU estimates vary with respect to how many new jobs might be created in Europe’s green economy. The estimate points to 650,000 jobs by 2020, while a renewable energy modeling initiative produced by an EU executive in 2003 increases that figure to 2.5 million. Wind and solar industries alone could provide over 8 million jobs worldwide by 2030.

In the shorter term, financing, skills and materials supply shortages in key renewable sectors (i.e., wind) are likely to put a damper on job growth. However, as fossil fuel prices continue to climb and concerns over the environment mount, the promise of green jobs is receiving unprecedented attention with more and more investors taking an interest.