As Alberta gears up for a potential transition from an oil and gas-dependent economy to a solar energy-based one, it has become increasingly clear that the workforce must undergo significant retraining. The shift towards renewable energy sources presents a new set of technical skills and knowledge areas that workers need to be equipped with. However, recent research reveals a considerable financial implication of this change. The cost associated with retraining and readying the workforce for this energy transition is expected to be...
1. Alberta is potentially transitioning from an oil and gas-dependent economy to a solar energy-based one, necessitating significant retraining of the workforce.
2. This shift towards renewable energies introduces new technical skills and knowledge areas that employees need to master.
3. Recent research has highlighted the considerable financial implications associated with this industry change.
4. Retraining the workforce for a new industry such as solar energy will be neither straightforward nor cheap, indicating substantial costs.
5. Despite the high initial costs, the research emphasizes that investing in retraining could result in high long-term returns if the renewable energy sector grows and becomes more profitable.
around $1.3 billion CAD over 30 years.
This transition will not be straightforward nor cheap. Retraining a workforce is always a significant undertaking, especially when shifting industries drastically. The new research indicates the expenses associated with this task, outlining that the cost of retraining workers for a new industry like solar energy is substantial. However, the study also emphasizes that this investment could potentially yield high returns in the long term, as the renewable energy sector grows and becomes more profitable.