Job seekers soak in the rapid growth of solar power

Job seekers soak in the rapid growth of solar power

Date: 06/27/2011

Solar energy is a shining beacon of hope for thousands of Americans seeking employment opportunities in the renewable energy industry.

Last week, the U.S. Department of Energy (DOE) offered a partial guarantee for a $1.4 billion loan to fund the largest rooftop solar plan in the nation, according to Reuters. The project, which is called Project Amp, will install 733 megawatts of solar energy on approximately 750 rooftops.

Bank of America Merrill Lynch, NRG Energy and Prologis announced they would help finance Project Amp. As a result, more than 10,000 jobs are expected to be created in 28 states over the next four years.

"By harnessing the full capabilities of our platform we're able to deliver this innovative transaction that brings together many parts of our Global Banking and Markets franchise," said Tom Montag, president of Global Banking and Markets at Bank of America. "This important accomplishment transforms the dynamics of distributed solar generation, delivers a significant source of clean energy and creates thousands of jobs across the U.S."

NRG Energy is the lead investor in the first phase of Project Amp, which is set to commence before September 30 this year in Southern California.

Meanwhile, one of the world's leading developers of solar energy solutions recently announced it will add approximately 500 jobs over the next five years. Fronius USA said it will open its American headquarters in Portage, Indiana in the third quarter of 2012, moving from its current location in Brighton, Michigan.

Some of the Michigan workers will transfer to Indiana and the company will be seeking professionals to fill technology positions, production roles and office administration jobs.

"We’re excited to bring new jobs anywhere in Indiana, but we're particularly excited Fronius has chosen northwest Indiana," Indiana Governor Mitch Daniels said. "Fronius is well-established, fast-growing and at the top of their field, exactly the kind of company we've rebuilt the Indiana business climate to attract."

The Bureau of Labor Statistics predicts that the solar power industry, a critical part of the growing "green economy," will continue to grow and develop over the coming years. Job opportunities are promising in the major sectors of this industry, including manufacturing, project development, installation and maintenance, the federal agency states.