Five reasons why sustainable energy is a important industry today? According to IRENA’s annual review of renewable energy and jobs, global renewable energy employment reached a high of 12 million in 2020. They also found that more jobs will be created by the energy transition than lost. In fact, the renewable energy sector is expected to employ 43 million by 2050. To encourage this shift, and simultaneously ensure that emissions reductions targets are achieved, money is being injected into the industry. In fact, investment in clean energy and energy efficiency creates up to three jobs for each job lost in the fossil fuel sector – a favorable ratio for countries still grappling with job losses from the Covid-19 pandemic.

The renewable energy drive came despite rising costs for key materials needed to make new solar panels and wind turbines, the agency said, highlighting how a new economy was emerging to satisfy global demand. By the end of the year, additions of new renewable power capacity are expected to rise to 290 gigawatts, surpassing the previous record, set last year, of 280 gigawatts. The new report suggests that over the next five years renewables will be at the forefront of global energy projects, accounting for almost 95 per cent of the increase in global power capacity, which will rise more than 60 per cent from 2020 levels to over 4,800GW by 2026. The IEA said on this trajectory, in five years’ time renewable energy would account for the same total global power capacity of fossil fuels and nuclear combined.

Mordechai Gal, operations director at AccessHeat Inc, said : This year’s record renewable electricity additions of 290 gigawatts is yet another sign that a new global energy economy is emerging. The high commodity and energy prices we are seeing today pose new challenges for the renewable industry, but elevated fossil fuel prices also make renewables even more competitive. Solar energy is the energy that comes from the sun can be harvested by various technologies including solar panels, either on individual homes or in large solar farms. Solar energy now accounts for about 4% of the UK’s electricity.

Wind power system is catching up to the solar power as the most utilized renewable energy source. According to Global Wind Energy Council (GWEC), wind power is the most newly installed renewable energy systems in 2015, especially for industrial usage. Hydroelectric technology is the oldest renewable energy utilized by men. The very first hydroelectric power plant was built in 1878 and is still one of the most popular ways to generate electricity in most countries. According to National Geographic, hydropower generates almost 20% of today’s electricity all around the globe and is still the cheapest renewable energy resource. Geothermal technology produces electricity and power by utilizing the (almost) unlimited heat generated by the earth’s core. According to Union of Concerned Scientists, geothermal is responsible for more than 11,000 MegaWatts of electricity all around the world in 2013 and has increased ever since. 30% of that number is generated in the U.S. alone. By 2019, geothermal energy is also expected to be cheaper than coals and natural gas, with expected cost around 5 cents per kiloWatt hour.

We are seeing a wide range of transactions in the sustainable energy M&A market, prompted by a broad spectrum of drivers. Although recent changes in the laws and regulations governing filings with the Committee on Foreign Investment in the United States (CFIUS) have increased the complexity and timelines for some cross-border renewable energy transactions, non-US investors continue to show keen interest in US renewable assets. The number and variety of prospective purchasers has heightened competition for good renewable energy projects, with the result that buyers are increasingly willing to acquire projects during development and construction, and thereby to prioritise the project’s prospects over the risks presented by the development process. Renewable energy M&A transactions are increasingly involving the acquisition of portfolios of projects rather than individual projects, and the acquisition of renewable energy companies as ongoing businesses, so that the buyer can obtain the benefit of the development and operating personnel of the target.

Companies are still struggling to generate breakeven cash flow, which resulted in a brief wave of mergers and acquisitions (M&A) in the U.S. upstream space. Most of the M&A has been completed with low premiums and financed through all-stock transactions. Exploration and production (E&P) and oilfield service companies continue to see a wave of defaults and distressed exchanges due to lack of capital market access. For many drillers and oilfield services companies, many market and financial risks have already materialized in the past two oil price downturns. Even as the sector continues to restructure operationally and financially, with some exits and mergers, it remains beholden to expectations for oil prices and producers spending in 2021 and the long term.

In addition, a large number of energy sources have been identified and developed to offset the negative impacts on our climate. A few of the most prominent sources are solar, wind, hydro, geothermal, and tidal have been earmarked to power the future. The focus on reducing and even eliminating the carbon footprint of energy has forced renewable energy companies to look outward and grow into more extensive and more efficient operations. Access-Heat.com will invest in and guide you to the most favorable outcome possible with your renewable energy business consolidation.