Renewable Energy for Sustainable Growth and Employment
The global expansion of renewable energy technologies, in particular wind and solar energy, has created significant economic value. Gross domestic product and jobs are generated in all stages of renewable energy projects, from planning to manufacturing, installation, operation and maintenance to decommissioning, and in various economic sectors.
The deployment of renewable energies around the globe is thereby not only a measure of climate protection, but also promoting sustainable growth. Deployment policies in various designs help to drive market development for renewables. To attract private sector investment, governments commit to strategic targets and set up investment promotion programmes, supporting e.g. the development of local suppliers and a skilled workforce through education, training and research. Capacity development is one example of how international cooperation may benefit economies in their effort to generate economic value from renewable energies.
In recent years, efforts to induce domestic value creation in the solar and wind industries included local content measures in a number of countries. Potential adverse economic effects need to be carefully considered, also keeping in mind the competitiveness of renewable energies.
Taking up the results of the Multilateral Solar and Wind Working Group’s upcoming econValue report, this roundtable discussion will focus on how governments can promote domestic growth and employment in line with the increasingly global nature of renewable energy sector’s supply chains.
Participants in this session will discuss how the impact of deployment policies on local manufacturing may be optimized, considering potential policy trade-offs. The debate will also cover how policy design can best take into account an economy’s industrial structure. Reconsidering the benefits of solar and wind energy can help to foster informed political decision-making on renewable energy deployment policies.
View the pre-read presentation.
- What are critical success factors of renewable energy deployment policies regarding economic value creation? Which lessons can be drawn from recent industry developments?
- Which strategies should countries follow to maximise job growth in the renewable energy sector? What are opportunities and challenges of international knowledge transfer?
- How can firms of the renewable energy industry strengthen their international competitiveness, in the light of rapidly changing global energy markets?
- Which strategies exist for economies to promote domestic value creation from renewable energies, considering the increasingly global nature of solar and wind supply chains?
- Which further measures of value creation beyond GDP and employment, such as delivering affordable domestic energy, energy security and providing energy access, should be targeted by policy-making and included in future impact assessments?