Rush of Talent and Money into Solar Power
The U.S. Department of Energy (DOE) has earmarked up to $24 million for breakthrough solar energy products. The DOE’s Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy, John Mizroch, recently announced the investments are aimed at developing solar energy products to significantly accelerate penetration of solar photovoltaic (PV) systems in the United States and make solar power cost-competitive with conventional sources of electricity. According to the DOE, these projects are integral to the Bush administration’s Solar America Initiative, which aims to make solar energy cost-competitive with conventional forms of electricity by 2015. The DEO adds that increasing the use of alternative and clean energy technologies such as solar energy is critical to diversifying America’s energy sources to reduce greenhouse gas emissions and dependence on foreign oil.
Looking ahead, many industry analysts and experts believe that solar power offers the promise of contributing a significant percentage of America’s and the world’s energy needs. According to the 2008 Utility Solar Assessment (USA) Study compiled by Clean Edge, Inc. and Co-op America, solar power could provide 10% of U.S. electricity generation by 2025. Amid the trend, talent is flocking to sustainables. Executive search firm, A.E. Feldman says there is a huge rush of talent and money into renewable energy sources, such as biofuels, wind power…and solar power.
A. E. Feldman has cultivated relationships with companies that have access to the financial resources to help fund U.S. based solar initiatives. One senior industry veteran and recruiter working with A.E. Feldman says, “Very few people understand this business yet but the wealth of individuals and institutional investors getting involved is enormously high. Interest in alternative fuels is absolutely growing and attention to the sector will only increase.” A.E. Feldman’s CEO, Carol Schwam, says the burgeoning alternative fuel industry is looking for super-brokers who can funnel money into their businesses. She notes, however, that entrepreneurs in this sector must bridge the gap between the science behind the technology and a successful business.
DOE Pushing Solar Power
The Federal Government has also stepped in to support the development of solar power, which will deliver energy at or near the point of use, zero fuel costs, minimal maintenance requirements and zero carbon-based source emissions. “Harnessing the natural and abundant power of the sun and cost-effectively converting it into energy is an important component of our comprehensive strategy to commercialize and deploy advanced, clean, alternative technologies to enhance our energy security and reduce greenhouse gas emissions,” said DOE Principal Deputy Assistant Secretary Mizroch.
The solar projects selected for negotiation of awards from the DOE focus on collaborative research and development by U.S. industry teams to develop products that will allow PV to become a more integral part of household and commercial smart energy systems. Applicant teams will also develop products that facilitate interaction between solar energy systems and plug in hybrid vehicles, to provide a secure back-up power sources during outages. According to the DOE, the intelligent controls and energy management efforts are a critical step towards developing net-zero-energy homes, buildings, and communities.
Extending Solar Tax Credits to Create Jobs
Meanwhile, a new economic study released by Navigant Consulting, Inc., reveals that more than 1.2 million employment opportunities, including 440,000 permanent jobs would be supported in the U.S. by the solar energy sector alone through 2016…if Congress extends the solar investment tax credit (ITC) for 8 years. The study also finds that extending the solar investment tax credits would increase domestic investment in the solar industry by $232 billion by 2016.
“There is the potential to create significant U.S. employment and investment opportunities,” said Jay Paidipati, Managing Consultant at Chicago-based Navigant Consulting, Inc. “An 8-year extension of the ITC would allow the market to maintain or possibly exceed its current growth rate.” Rhone Resch, president of the Solar Energy Industries Association (SEIA), based in Washington, D.C. adds, “By extending the solar investment tax credits, Congress can provide an immediate boost to the floundering U.S. economy by creating hundreds of thousands of jobs and injecting billions of dollars of new investment capital into the economy, while at the same time driving down energy costs for consumers.”
Right now, A.E. Feldman is one step ahead of the latest developments in renewable energy and green technology. To learn more about these issues or inquire about existing and future job opportunities in this sector, the lines of communication are open. Contact the Mitch Feldman, President of A.E. Feldman, and the firm’s cutting edge recruiting team here.
