An expedited shift toward renewable energy could contribute 40 million jobs in the energy sector by 2050, contingent on the implementation of “progressive” policies to enhance socio-economic advantages from the transition to clean energy, as indicated by the International Renewable Energy Agency (Irena).
Irena’s report, released on Wednesday, underscores that while employment in the renewable sector is projected to triple by 2050, the distribution of jobs will be uneven across different regions. Asia is anticipated to host 55% of global renewable jobs by 2050, followed by Europe at 14%, and the Americas at 13%, with only 9% of jobs expected in sub-Saharan Africa.
Francesco La Camera, Irena’s director-general, emphasized the need for policymakers to address not only the technological aspects of the energy transition but also its socio-economic implications. La Camera stated, “The energy transition holds great promise for boosting the global economy, but we must address persistent inequality.”
Irena pointed out that in Africa, per capita gross domestic product (GDP) is projected to double by the mid-century. However, resource-rich countries on the continent are likely to experience faster growth, exacerbating regional disparities.
The report also highlighted the potential for significant economic growth in emerging economies like India and China, which could reshape the global economic landscape.
In a related context, over 100 countries have endorsed the Cop28 pledge, committing to tripling renewable energy capacity and doubling energy efficiency by 2030. However, Bruce Douglas, chief executive of the Global Renewables Alliance, stressed the need for substantial action at the country level to achieve these targets.
While the International Energy Agency noted that solar energy generation is on the path to reaching net zero by 2050, Sonia Dunlop, chief executive of the Global Solar Council, stated that with the right policy conditions, grid connections, and finance, solar capacity could reach 8 terawatts by 2030.
Renewable energy is projected to constitute nearly half of the global electricity mix by 2030 under existing policies, but stronger measures will be necessary to meet the goals outlined in the Paris Agreement, according to the World Energy Outlook released by the Paris-based agency last month. The share of renewable energy in power generation is expected to rise to 50% by the end of the decade, up from the current 20%.
