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William V. Liuzza
December 31, 2022
This is our last newsletter of 2022, and I’ll be sharing some of our observations, milestones, and challenges in talent acquisition within renewable energy from the last twelve months. But first, THANK YOU to our customers and job-seekers for supporting EnergeiaWorks in our 12th year of business. And, of course, thank you to my fast-growing team at EnergeiaWorks. #teamEW wouldn’t be #teamEW without each one of you.
The surging demand for industry talent boosted EnergeiaWorks to start Q1-2022 with a quarterly revenue record, but by March, it became increasingly clear that the cost of talent acquisition was rising at a non-sustainable rate. The juxtaposition of offshore wind job growth and potential solar industry job loss due to the Auxin Solar circumvention case was front of mind throughout the spring and summer, and I had the opportunity to discuss these issues in an interview with ROI-NJ. In my opinion, the Commerce Department’s decision on the Auxin Solar case caused irreversible damage to the renewables field in 2022.
But the summer brought the promise of the Inflation Reduction Act, powerful enough to turn around any residual damage left by Auxin Solar, and our industry celebrated the IRA at fall in-person events including Renewables UnWind networking receptions and September’s RE+ in Anaheim. Autumn shifted my sight to Canada as the Canadian Government released news on a Investment Tax Credit to compete with the US renewable energy industry and hosted the Electricity Transformation Conference in Toronto.
It could be my optimism speaking, but I’m predicting better market conditions for job growth. The inflated job market will continue to fall back to normal conditions through the adjustment of the Interest Rate and job losses. The second half of 2022 saw some tech industry layoffs and these will continue in 2023. While I don’t think renewable energy will see mass layoffs anytime soon, I anticipate 2023 will show a better balance of supply vs demand for talent. And at some point (likely Q3-Q4) we will see salaries in our industry return to normal levels.
I will continue to monitor the employment market in clean energy and report more industry data each month. At the end of Q1, I’ll plan to do a deep-dive into 2022 hiring in solar, onshore wind, offshore wind, and energy storage once the associations give us some hiring facts.