Siemens Gamesa has launched a US initiative designed to overcome financing barriers for would-be wind turbine technicians.
The turbine manufacturer’s training programme, Wind Academy, has partnered with Meritize, which provides financing solutions for skills-based training and education.
Wind Academy trainees will now be eligible for merit-based financing, which can in many cases reward individual borrowers for their past educational and military experiences.
“Investments in renewable energy infrastructure are not just helping to reduce carbon emissions, but also creating access to well-paying jobs in the new clean energy economy in communities across the country,” said Cynthia Brown, director of Wind Academy by Siemens Gamesa.
“Wind techs are now the fastest-growing occupation in the country. With the right training and support, wind technology can offer high-growth pathways to career and economic mobility, while supporting the shift to a more environmentally-sustainable economy.”
According to the Bureau of Labor Statistics, job openings for wind turbine technicians in the US are projected to grow 68% through 2030, much faster than average rate of growth for all other occupations.
The median annual salary for roles in wind turbine technology is $56,230, significantly higher than median annual wages in the broader economy.
Wind Academy combines classroom instruction led by industry veterans with hands-on experience using full-size nacelles and climbing towers to help trainees learn the fundamentals of electrical engineering, safety, and repair along with the required training needed to install, inspect, repair and maintain wind turbines.
The introduction of the new financing option offered on the Meritize platform is designed to create a more inclusive and affordable pathway to help wind techs-in-training finance the cost of tuition and access careers in the industry.
Meritize does this by considering the full breadth and depth of an individual’s academic or military achievements to enhance credit evaluation and improve loan options.
Because Meritize takes into account military experiences, merit-based financing can provide a significant source of financial and credit assistance for returning veterans who are transitioning into civilian life.
“To respond to a changing climate and power the shift to a renewable energy economy, the wind energy industry is going to need an army of wind and solar techs, which are now among the fastest growing and most in-demand jobs in the US,” said Chris Keaveney, CEO of Meritize.
“This is a prime example of how we can help workers to reskill for careers in high-growth industries on an accelerated timeline, while meeting some of the most pressing challenges for our society, our economy, and our environment.”