Asia Leads Global Renewable Energy Boom: AS Acquisitions Highlights Job Growth and Gender Inclusion in Solar Sector

London, United Kingdom, September 20, 2024 --(PR.com)-- AS Acquisitions' recent report reveals that Asia solidifies its position as a market leader in the renewable energy sector, accounting for 63% of all registered renewables. Solar PV has emerged as a major player, with previous biofuel jobs now transitioning to labor-intensive operations within the agricultural supply chain. Countries like Brazil, Colombia, Malaysia, the Philippines, and Thailand showcase significant job growth in this sector.

The renewable energy industry presents substantial employment opportunities, with hydropower and wind industries employing 2 million and 1.2 million individuals, respectively. Interestingly, renewable jobs exhibit better gender balance and inclusion compared to fossil fuels. Michael Adetona, Principal at AS Acquisitions, reports that women comprise 32% of the total renewable workforce, surpassing the 21% representation in the fossil fuel sector.

Off-grid renewable energy, driven by solar technology, is contributing to a growing number of jobs, although accurate estimates and absolute numbers remain scarce. Decentralized renewable energy solutions promote productive use in rural areas, leading to employment multiplier effects in sectors such as agriculture, food processing, healthcare, communication, and local commerce. AS Acquisitions recognizes the importance of these developments and their potential to impact local economies positively.

To sustain the expansion of renewable jobs, comprehensive policies are crucial. Industrial policies that support education and training initiatives, labor market interventions, and the utilization of local capabilities play an essential role. The Annual Review from AS Acquisitions highlights promising initiatives, including vocational training, curriculum-building, teacher training, and the promotion of innovative public-private partnerships. Moreover, policymakers must prioritize re-skilling programs for workers transitioning from the fossil fuel sector, as Michael Adetona, Principal at AS Acquisitions, emphasizes.

AS Acquisitions' report underscores Asia's dominant position in the renewable energy market, with 63% of all registered renewables. The significant job growth in solar PV, particularly within the agricultural supply chain, highlights the industry's potential. Additionally, the renewable energy sector demonstrates better gender balance and inclusion compared to fossil fuels. Policymakers must focus on comprehensive policies and prioritize re-skilling efforts to support a sustainable and thriving workforce in the transition to renewable energy. Michael Adetona, Principal at AS Acquisitions, further stresses the importance of ongoing training and education to maintain the momentum in renewable job growth.