My first thought when I touched down in Anaheim last month was, “am I really ready to put on my networking hat and talk to a lot of people I don’t know?” To be fair, this is a question I always ask myself before attending an industry event, but, as is the general consensus right now, the question was more prominent given this was my first major trade show in three years.
Thankfully, I wasn’t alone – I was there with 27,000 other RE+ 2022 attendees, and we were all eager to discuss what’s going on in the clean energy space. A lot has happened in the industry since the last RE+ show in 2019. There was a total of $39B of investments across 588 private deals in the “climate tech” space in 2021. This year, “ESG” has emerged as the new business buzzword – one that is severely important but becoming a point of contention among industry experts and leaders, investors, and the general population.
So what should be top of mind for those in the cleantech and green tech spaces now and into the future? Throughout the panels and networking events I attended, and the one-on-one discussions I had, there were a few key themes that consistently came up.
Demand for Clean Energy Solutions is Higher Than Ever
Among consumers,demand for clean solutions and offerings is higher than ever before. This isn’t a big surprise given the trends we’ve seen over the last few years, but it’s a reckoning that solution providers will have to address soon rather than later.
There are a few factors that have impacted consumer demand, the first being the passing of the Inflation Reduction Act. While climate change has been a topic of conversation for decades, the bill has brought the importance of climate protection and clean energy investments to the forefront – putting a clear emphasis on action. A second factor that has driven consumer demand is the continued positive reception of electric vehicles and manufacturers’ further investment in the space. With more EVs on the market and the street, costs are becoming more affordable and consumers have a better understanding of their energy usage.
Of course, with this demand comes the need for companies to effectively scale across the board. Throughout the pandemic there was a decline in workforce, specifically in the solar industry, and the need to rebuild and expand the number of installers is essential for growth. Additionally, the ability for companies to scale product offerings at speed will determine how effectively the market can keep pace with demand. These considerations, as well as an evolving supply chain and industry consolidation, should be kept top of mind for leading companies within the space.
With Increased Demand, Equity and Inclusion Must Be Top Priorities
Alongside this growth in awareness and expansion within the space, cleantech and green tech companies must also prioritize equity and inclusion. Leaders across the industry recognize that now is the time to invest in equitable and inclusive practices that not only positively impact their businesses, but ensure that clean energy solutions are available to everyone.
At the event’s opening session with Hasan Minhaj (comedian) and Mary Powell (CEO of Sunrun), Arshad Mansoor, CEO and president of the Electric Power Research Institute, noted that between 30-40 percent of society are the least able to afford the transition to clean energy, yet they would most benefit from these solutions. He and Powell called for “radical collaboration” among leaders to ensure that the industry does not disregard systemically excluded communities.
Additionally, equity and inclusion are priorities for leading industry consortiums such as SEIA and WRISE, which are prioritizing the creation of opportunities for women in the energy sector. At a Women in Energy networking event, we heard from executives at both companies who spoke to the programs they are actively investing and involved in to ensure diversity within the industry. One such program is WRISE’s Solar Power Fellowship, which provides aspiring professionals from diverse backgrounds the opportunity to pursue careers in the renewables industry.
There is a lot of work to be done to ensure equitable access and opportunities, but there are people on the ground working to create a diverse and inclusive space for professionals and consumers.
- Emma Wolfe, VP