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Report Reveals 23.7% Surge in Job Demand within Renewable Energy Sector During FY24

A recent report by TeamLease Services underscores the flourishing job market in India's renewable energy sector, revealing a robust surge of 23.7% in demand during the fiscal year 2023-24. This significant increase reflects the sector's growing importance in the country's economy and its pivotal role in promoting sustainability.

KJ Staff
Report Reveals 23.7% Surge in Job Demand within Renewable Energy Sector During FY24 (Photo Source: Pexels.com)
Report Reveals 23.7% Surge in Job Demand within Renewable Energy Sector During FY24 (Photo Source: Pexels.com)

On the occasion of World Environment Day, a report unveiled a significant rise in job opportunities within India's renewable energy sector, showcasing a robust growth of 23.7% during the fiscal year 2023-24. This surge in demand was accompanied by a noteworthy decline in attrition rates, signifying a positive trend in the workforce landscape.

The report, compiled by staffing firm TeamLease Services, highlighted a remarkable increase in job demand compared to the previous fiscal year, which saw an 8.5% rise. Particularly, the demand for roles within the renewable energy sector has been exceptionally high in tier II and III cities, where a majority of renewable energy projects are located.

Roles in operations, maintenance, and technical fields are particularly sought after, with rising demand for solar PV and wind turbine technicians, installers, roofers, production operators, storage operators, and waste management specialists, as per the report.

Subburathinam P, Chief Strategy Officer - Staffing at TeamLease Services, emphasized that the surge in job opportunities reflects the sector's commitment to fostering a resilient and engaged workforce dedicated to making a difference. He noted a decline in attrition rates as evidence of employees finding meaningful careers and feeling deeply engaged and motivated by their impactful work.

The insights provided in the report are based on internal data analysis of renewable energy companies partnered with TeamLease Services. It was further revealed that the attrition rate in the sector decreased to 33.5% in FY24, down from 38.8% in the previous fiscal year, indicating greater stability and job satisfaction among employees.

Kartik Narayan, CEO - Of staffing at TeamLease Services, highlighted the evolving dynamics of the renewable energy sector, emphasizing a commitment to creating an environment where talent thrives and contributes to a sustainable future. He characterized the findings as marking a transformative chapter characterized by resilience and opportunities in the renewable energy sector.

In terms of educational qualifications, the report noted that 22.9% of the workforce holds a 10th or 12th-grade qualification, while 73% possess an ITI, diploma, or graduation degree. Additionally, 4.1% of the workforce holds a postgraduate degree, reflecting the sector's inclusive hiring approach and its welcoming stance towards individuals from diverse academic backgrounds.

This surge in job demand and the decline in attrition rates underscore the renewable energy sector's pivotal role in driving economic growth while contributing to a sustainable future.

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