Job demand in renewable energy sector surges 23.7 percent in FY24: Report

NEW DELHI: On the occasion of the World Environment Day, a report on Wednesday revealed that in India the job demand in the renewable energy sector witnessed a growth of 23.7 per cent during 2023-24, accompanied by a consistent decline in attrition rates.

The renewable energy sector has experienced a remarkable surge in jobs, with a staggering 23.7 per cent increase in FY24, compared to 8.5 per cent in FY23, according to a report by staffing company TeamLease Services.

The demand for roles is exceptionally high in tier II and III cities, where most renewable energy projects are located, it stated. While positions in operations, maintenance, and technical roles are highly sought, there is a rising demand for solar PV and wind turbine technicians and installers, roofers, production operators, storage operators, and waste management specialists, the report added.

"We are witnessing a positive trend in the renewable sector's workforce. The renewable energy sector is more than just about green energy, it is about fostering a resilient and engaged workforce passionate about making a difference. The decline in attrition rates is a testament to the fact that employees are not only finding meaningful careers but are also deeply engaged and motivated by their impactful work," TeamLease Services CSO Staffing Subburathinam P said.

Attrition rate decreased to 33.5 per cent in FY24

The insights of the report are based on internal data analysis of renewable energy companies that TeamLease Services works with. The data further found that attrition rate has decreased to 33.5 per cent in FY24, compared to 38.8 per cent in 2022-23. This significant reduction reflects a greater sense of stability and job satisfaction among employees in the renewable energy sector, added the report.

"The growth in jobs and reduced attrition rates in the renewable energy sector highlight the industry's evolving dynamics. There is a commitment to creating an environment where talent thrives and contributes to a sustainable future. Our insights underscore the industry's advancing phase, marking a transformative chapter characterized by resilience and opportunities in the renewable energy sector," TeamLease Services CEO of Staffing Kartik Narayan said.

When it comes to educational qualifications, 22.9 per cent of the workforce have completed 10th and 12th grade, 73 per cent hold an ITI (Industrial Training Institute), diploma or graduation degree, said the report. Also, 4.1 per cent of the workforce holds a postgraduate degree, it added.

This educational diversity reflects the sector's inclusive approach to hiring and welcoming individuals from various academic backgrounds to contribute to the renewable energy mission, it added.