Energy Industry Trends
Published: 14 Mar 2016
Energy Industry Trends provides an insight into the oil and gas, renewables and power sectors over the last year.Based on detailed sector research and survey from candidates the report highlights the key current and future trends within the energy industry and the potential transitions and changes within the core energy sectors.
Trends in the market
Since the Fukushima incident in 2011 all countries halted the development
of nuclear power plants and any ‘older’ plants were shut down fairly rapidly. Nearly five years have now passed since Fukushima and countries such as Japan, UK and USA have growing confidence in the resurgence of nuclear energy.
Top Sub Sector Salaries.
£37K engineering and manufacturing
£41K site/project management
Current power and nuclear salaries on Energy Jobline range from £33K to £150K.
Top Skills 2015 Energy Jobline.
Top salary Locations UK.
North East £32k
South East £32k
South West £31k
East Midlands £31k
Top Skills Salaries in Energy
There are still some overlying concerns with nuclear power which largely relate to nuclear waste and the potential of a recurring incident as seen in Fukushima. Experts in the industry however are keen to stress the improvements in design and safety through a range of new start-up developments. Many of these new technologies have and will be developed outside of Europe and USA with countries such as China leading the development and innovation in nuclear power.
Oil and Gas.
Trends in the market
The oil and gas industry has massively been in the spotlight and not necessarily for all the right reasons. It may come as little surprise but oil prices and new jobs are likely to remain low – at least for 2016. In fact oil prices have recently continued to drop even closer to $30 a barrel. Analysts are predicting oil prices to subside later in the year but are sceptical of any improvement and likely will remain very low this year.
The dropping demand in China and the recent Paris climate agreement
have also hindered any short term resurgence in the oil and gas industry.
Countries are showing more commitment to reducing carbon emissions which could potentially extend this slump period for oil and gas industry. For those in favour of oil and gas the optimistic view is quick to highlight historical data on oil prices. Whilst there is no denying it may take some time for oil prices to recover analysts predict oil prices will inevitably recover to a much higher price than current standards over the next few years.
Top industry Salaries.
Drilling Engineer £73k
£57K average salary in the UK oil and gas industry.
£62K average oil and gas industry salary on Energy Jobline
On Energy Jobline 56% of oil and gas candidates would consider making a
transition into the renewable energy industry.
Top Skills 2015 Energy Jobline
Top skills willing to make the transition.
Top reasons for not making the transition.
Lack of training/support
Perception of lower pay
Unaware of opportunities
Skills in demand.
Low Geoscience, Drilling, Construction
High Operations, Management, Maintenance
Future of oil and gas
Many oil and gas professionals, particularly within these top disciplines are capable of making the transition into an alternative sector in the energy industry. With the right training many oil and gas workers have the ability to make the transition into the power, renewables or nuclear sectors. The lack of training opportunities however has somewhat hindered any major steps in this transition but it seems governments are now beginning to recognise this need to retrain. First Minister, Nicola Sturgeon has recently announced a new £12 million ‘Transition Training Fund’ to provide financial support to individuals who have lost their jobs in the oil and gas industry.
Trends in the market
The renewable energy industry has continued to show strong signs of growth during 2015. Whilst in certain countries the solar industry has been somewhat halted other nations are ploughing ahead with developing their
solar sector. The US solar industry has had a ‘record-breaking’ year and continues to show no signs of slowing down. Elsewhere, China and India have showing a remarkably strong presence in the solar industry.China plans to install as many solar parks in 2016 as America has achieved since the beginning of time. Latin America has also shown positive signs of growth, particularly in Chile and Mexico. Bloomberg new energy finance predicts that solar energy will account for 35% of new power generation infrastructure built over the next 25 years. This equates to a spending of $3.7 trillion on both small and large scale solar projects worldwide.
Costs are dropping and technology is improving so the overall outlook for wind energy is looking positive. Renewable generation costs have declined in many parts of the world due to sustained technology progress, improved financing conditions and expansion of deployment to newer markets with better resources. Announced prices for long-term generation contracts at reduced levels are emerging in areas as diverse as Brazil, India, the Middle East, South Africa and the United States. Wind energy installed capacity in Europe in 2030 will increase almost two and a half times (or 148%) compared to 2014 levels to reach over 320 GW, comprising 254 GW of onshore wind and 66 GW of offshore wind, according to the Central Scenario in the Wind Energy Scenarios for 2030 report published by the European Wind Energy Association (EWEA) in August 2015.
£37.5K average salary in the UK renewables industry
£40.9K average renewables salary on Energy Jobline
209k people employed in the solar industry in USA.
1.1M people currently employed in Europe in the renewables sector.