As the global demand for energy rises, the push towards sustainable electricity has gained momentum, promising environmental and significant economic benefits. Sustainable electricity—derived from renewable sources like wind, solar, and hydro—aids in driving economic growth, creating jobs, and empowering communities.
Sustainable electricity aids in accelerating economic development. Renewable energy projects, often set up in rural and underserved areas, provide these regions with reliable power, enabling local businesses to thrive and reducing the cost of energy imports. Countries investing in renewable energy infrastructure are witnessing substantial economic gains.
The renewable energy sector is labor-intensive, requiring various skills for developing, installing, and maintaining technologies like solar panels and wind turbines. According to the International Energy Agency, it employed 36 million workers across clean energy supply chains in 2023. The renewable energy sector employed 36 million workers worldwide across its supply chains in 2023, and the number is expected to grow, with jobs spanning from manufacturing and installation to research and development. This job creation reduces unemployment rates and fosters skill development and long-term career opportunities.
With approximately 860 million people worldwide lacking access to electricity, cleantech facilitates economic empowerment, especially in remote and impoverished areas. Access to reliable and affordable energy can transform lives by powering homes, schools, and hospitals and improving education and healthcare services. Furthermore, it enables small businesses and agriculture to operate more efficiently, increasing productivity and incomes. Microgrids and off-grid renewable energy systems can provide electricity to communities not connected to the primary grid, promoting education and basic services like lighting and mobile phone charging instead of relying on kerosene and reducing pollution.
