Energy Analyst Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of an energy analyst. You can use our job description template in this article to produce your own. We also provide you with information about the salary you can earn as an energy analyst.
Who is an Energy Analyst?
An energy analyst work in different aspects of the energy industry, participating in policy development, efficiency improvements, and business analysis for investors. Depending on the type of work undertaken, qualifications may vary but may include university or business degrees as well as experience in the field. Certifications are also available for those who want to advance their career to be able to provide assurance to their clients and customers. Employers can be government agencies, non-profit organizations, and private companies.
An energy analyst works on policy development issues. This involves understanding existing policies and matching them to projected needs, environmental issues, and goals that the government may have. Analysts gather this information to develop policy recommendations at national and local levels. For example, an energy analyst may work with a municipality to promote a program to encourage citizens to reduce their individual resource consumption.
Acting as an efficiency consultant, the energy analyst can assess energy consumption in private homes, businesses, and the company’s network of facilities. The analyst identifies areas of inefficient energy use and makes suggestions for improvement. This may include measures to reduce the temperature in homes and individual facilities or the introduction of alternative energy sources to meet the company’s needs. Typically, the energy analyst considers mixed objectives, focusing on environmental issues while reducing costs.
The financial industry is another potential area of employment for an energy analyst. These professionals study companies in the energy sector to make recommendations to their clients, which may include individual utilities or related companies. They may advise large investors on participation in the sector, as well as discuss investments with individuals interested in developing positions in energy companies. Some energy analysts may write opinions and information guides for those interested in this sector of the economy.
Knowledge of different methods of energy production, the industry as a whole, and specific policy issues are usually useful for an energy analyst. Specific tasks in this career may require in-depth training in areas such as political science and economics. Jobs may be listed in industry publications as well as directly on resources supported by companies in the sector and may include internship opportunities for university students interested in a career in energy analysis.
Energy Analyst Job Description
Below are the energy analyst job description examples you can use to develop your resume or write a job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of an energy analyst include the following:
- Conducting comprehensive and in-depth company and industry research, including research and analysis of regulatory frameworks.
- Managing multiple projects simultaneously and working effectively both individually and as part of a team.
- Contributing to the management of the business, maintaining regular contact with the client, specialist consultants, and other internal departments.
- Assisting in structuring, negotiating, and executing financing solutions to meet the needs of clients in the sector.
- Possessing well-developed skills and knowledge in the energy field, providing original analysis and insights.
- Planning projects, including timelines, deliverables, and stakeholder teams.
- Conducting differentiated primary research on companies and sectors
- Generating investment ideas and making recommendations to the investment committee
- Building and updating financial models and preparing written investment memos.
- Monitoring of supply and demand factors that may affect prices, including geopolitical events that may disrupt supply chains or increase demand for certain types of energy.
- Preparing energy trend reports, forecasts, and other statistical analyses of energy use in different sectors of the economy
- Conducting studies on new energy technologies to determine how they may affect existing infrastructure such as power plants, transmission lines, and pipelines
- Recommending policies to reduce energy consumption to mitigate price fluctuations and supply problems
- Identifying cost reduction opportunities in energy efficiency projects or capital expenditures based on analysis of historical data or modeling tools.
- Providing recommendations to clients to improve energy efficiency and reduce energy costs through technology improvements or operational changes.
- Preparing forecasts of future energy demand, based on economic growth projections and other relevant factors.
- Developing plans to increase energy production capacity by identifying new sources of supply or recommending changes to existing supply methods.
- Conducting surveys to determine consumer preferences and behavior in relation to energy consumption.
To become an energy analyst, the following qualifications are required:
Most employers require energy analysts to have an undergraduate degree in a related field such as engineering, business, or finance. Courses offered by these programs include statistics, economics, business law, accounting, finance, marketing, management, and engineering.
Training and experience
Many employers provide on-the-job training for newly hired energy analysts. This training will help the analyst learn the specific software and systems used by the company. It will also help the analyst to master the company’s specific processes and procedures.
Energy analysts may also receive training during an internship. During an internship, the analyst learns the basics of the sector and their role. They also receive on-the-job training that prepares them for a career as an energy analyst.
Certification and licensing
No certification is required to become an energy analyst. However, certain certifications can give energy analysts an unfair advantage over other candidates applying for the same positions.
Energy analysts use their knowledge of computer programming languages and software to analyze data from a variety of sources, including utilities, power plants, and other resources. They then use this information to make recommendations for reducing energy consumption or introducing alternative energy sources.
SQL is the programming language that energy analysts use to query data in databases. They must know how to read and interpret the information they find and manipulate it to create graphs and other visual representations of their results. SQL also enables them to store and retrieve data efficiently.
- Microsoft Excel
Microsoft Excel is a spreadsheet program that energy analysts use to create and manipulate data. They often use Excel to organize data, perform calculations and generate reports. Having this skill can help you analyze large amounts of data quickly and efficiently.
- Business knowledge
Business knowledge is the ability to understand how companies operate and how they make decisions. This skill can be useful to energy analysts, as it allows them to better evaluate a company’s financial data. It also allows them to determine whether a company has implemented energy efficiency measures effectively and whether these measures are having the desired effect.
- Data analysis
Data analysis is the process of examining data to identify trends and patterns. Energy analysts use this skill when examining building energy consumption data, as they need to understand how much energy each building is using to make recommendations for reducing consumption. Data analysis also helps them determine the most effective strategies for reducing consumption.
- Regulatory knowledge
Regulatory knowledge is an understanding of the laws and regulations that affect your industry. Energy analysts often work in sectors with strict regulatory requirements. It is therefore important to have a good understanding of all the rules and guidelines that apply to your work. This includes the ability to interpret energy data and understand what type of information is required by law.
As an energy analyst, you may need to communicate with clients and colleagues by email or telephone. You may also present your findings to clients in person, so it is important to be able to explain technical concepts in accessible language.
- Organizational skills
Organization is a skill that can help energy analysts succeed in their careers. This skill involves planning and scheduling tasks to ensure deadlines are met, projects are completed on time, and the quality of work is maintained. Energy analysts need to have organizational skills, as these enable them to manage large amounts of data efficiently and ensure that they provide accurate information to clients.
Python is a programming language that can be used to create scripts and automate tasks. This is an important skill for energy analysts as it allows them to streamline workflows by automating repetitive processes such as data entry or calculations. Python also allows them to develop programs that can help other professionals perform similar tasks.
Statistics is the process of collecting and analyzing numerical data. Energy analysts use statistics to estimate energy consumption, production, and other related factors. This skill can help you make informed decisions about how to improve a company’s energy efficiency or reduce its carbon footprint. It also produces informative reports that management can use to take action on potential improvements.
- Critical thinking
Critical thinking is the ability to analyze a situation and draw logical conclusions. Energy analysts use critical thinking when evaluating energy consumption, production, and distribution systems. They must be able to identify areas where improvements can be made and propose solutions that will reduce costs for companies or organizations while reducing their environmental impact.
- Analytical skills
This is the ability to analyze data and information, identify patterns and trends, and draw logical conclusions. Energy analysts use their analytical skills when examining energy consumption records, utility bills, and building design. They also use these skills to determine how much money a company could save by adopting new technology.
- Problem-solving skills
Problem-solving skills are essential for energy analysts to identify and solve power system problems. They use these skills when analyzing data, creating reports, and making recommendations to improve a company’s energy efficiency. With this skill, energy analysts can also solve hardware or software problems that affect their work.
- Attention to detail
Attention to detail is the ability to notice small details and make accurate observations. Energy analysts often use this skill when examining data, as they need to understand all aspects of a company’s energy consumption. This skill also helps them identify areas where companies can save money on utility bills.
- Financial modeling
Financial modeling is the ability to create and interpret financial statements. Energy analysts use these skills to estimate a company’s energy consumption, production, and costs. They also use these skills when developing proposals for clients who wish to reduce their energy consumption. Financial modeling requires attention to detail and an understanding of accounting principles.
How to Become an Energy Analyst
- Get a degree
To start a career as an energy analyst, a bachelor’s degree in business or a related field is usually required to remain a competitive option for employers. Focus on developing industry skills during your studies so that you are well-prepared when applying for entry-level positions. An internship as an energy analyst may be also necessary to obtain a license and gain the necessary field skills before entering the workforce.
- Choose a specialization in your field
As an energy analyst, you may need to choose a specialization in your field. Determine which part of the energy analyst field you feel strongest in, and continue to take active steps to develop your chosen energy analyst specialization.
- Get an entry-level position as an energy analyst
After earning a bachelor’s degree in business or a related field, you will typically begin your career as an entry-level energy analyst.
- Advance in your career as an Energy Analyst
After entry level, there are several levels of career progression for an energy analyst. It may take two years to reach the next management position as an entry-level energy analyst. To progress up the energy analyst career ladder, each advanced level position requires approximately one year of experience at each level. Additional training, such as a master’s degree in a related field, or special certifications may be required to advance in the energy analyst hierarchy.
- Continuing Education for a Career as an Energy Analyst
Not all industries and companies require continuing education to advance your career as an energy analyst. However, obtaining such a degree can help you move more quickly into higher-paying positions. This can take four years to complete a business degree.
Where to Work as an Energy Analyst
Energy analysts work in a variety of organizations, including government agencies, private companies, and non-profit organizations. They usually work in offices, although they may travel to different locations for meetings or field research. Energy analysts usually work full-time and may work overtime to meet deadlines or complete projects. Some energy analysts may be required to work weekends or holidays. Energy analysts usually work in teams and may collaborate with other specialists such as engineers, economists, and policy analysts.
Energy Analyst Salary Scale
The average annual salary of an Energy Analyst Engineer in different countries includes the following:
United States: $69796
United Kingdom: £33,943