Top Tips

Tips for a rapid renewables industry

There was an estimated £29.8bn of investment in the renewables sector during 2010-2013

There was an estimated £29.8bn of investment in the renewables sector during 2010-2013

With the renewable energy industry growing at a rapid rate, skilled professionals who have the knowledge to project manage and finance green energy initiatives are in demand. The European Centre of Technology have recommended the following tips for working in the renewable energy industry.

1. Opportunities and Risks – Renewable Energy Projects provide huge opportunities when managed effectively. Aside from the obvious environmental benefits, renewable energy projects can be lucrative business opportunities and excellent long-term investments. However, without effective planning and skills, projects can also be high risk, so a sound knowledge of risk management is important for success.

2. Effective Project Finance is Key to Success – Renewable Energy solutions come at a cost and understanding how to correctly and efficiently finance them is key to success. Financing methods including FiT, RHI, ROCs, CfD, PPA, ESCO and EPC can all be considered.

3. The World is Becoming Decarbonised – Renewable Energy Projects, of all different types, sizes and budgets, are being developed worldwide. Opportunities in this sector therefore have a global reach, and individuals working within the sector can seek opportunities anywhere in the world.

4. Finance Mechanisms and Incentives for Renewable Energy Projects are available worldwide – There are a large number of UK, EU and Global market based mechanisms i.e. Feed in Tariffs which assist in providing financial support for renewable energy projects.

5. Renewables are now Integral to Construction Projects – Renewable Energy solutions will always be considered as options for new construction projects, since often they offer the most sustainable and cost-effective energy solutions. For those working in the construction and related industries, a sound knowledge of Renewable Energy Management and Finance is extremely beneficial.