Estimates from the Australia Institute show a rapid renewable energy transition in Australia could generate 58,554 new jobs annually over eleven years.
The ‘Will-o’-the-ISP’ report is based on the Australian Energy Market Operator’s Integrated System Plan (ISP).
The ISP is a comprehensive infrastructure development plan for Australia’s energy system. It projects how much renewable energy will enter the market between now and 2030.
The ISP includes a ‘fast’ scenario that sees 42,895 MW of new renewable energy capacity built by 2029-30. This will result in 53 per cent of generation capacity from renewables.
Rapid transition to renewables promotes jobs
The Australia Institute estimate is based on four studies on the employment benefits of renewable energy development.
Applied to the ISP’s “fast” renewable uptake scenario, the estimate is 58,554 full-time jobs each year over eleven years.
The report says “surprisingly little attention” is given to the potential employment benefits of a rapid transition to renewable energy.
“This is even more surprising as many of the benefits would be felt in regional areas where employment opportunities are often a social, political and economic priority,” the report adds.
“As more renewable energy develops, researchers, decision makers and the public will hopefully gain a better understanding of these benefits.”
The report found most renewable energy jobs occur during construction and installation. However, a considerable workforce then operates and maintains the facilities.
See full report here.