The way renewable energy can skyrocket to the top when COVID-19 ends
Renewable energy was going up gradually before the coronavirus struck but still not sufficient to reach the Paris Agreement’s reduction targets, it could not be able to control the climate as well to keep it at bay.
The pandemic has brought economic blow hence causing a sluggish expansion of wind, solar and other power sources, so the experts say. But with precaution been taken such social distancing, lockdowns, and self-quarantine which by the way triggers financial uncertainties have set upcoming projects at rest, the power of renewable energy becomes strong hence analysts expect economic benefits over fossil fuels that are volatile.
If the pandemic finally puts clean energy on a more rapid path than it was earlier then this year will be modelling to be a critical moment for renewable energy, but this will largely depend on political leaders
This is an opportunity for political leaders to come together and grab this chance to strategies economic ways of recovering the economy to fast-track a shift towards wind and solar powers instead of bracing up the fossil fuels economy
Delay of a certain percentage of wind and solar volume that was programmed for rest ricks, this was confirmed by Francesco La Camera, who is also the director-general of the International Renewable Energy Agency. He also further highlighted that people should only be afraid that the government could try to drive lobbyists to pay out sectors that were in the past which is in alarming issue
As cessations targeted at slowing the viral spread has made global energy request to Plummer, renewable sources have accounted higher than before the share of power generation. This is because the cost of solar and wind is low; hence it is frequently dispatched before other sources like nuclear power and coal are. The demand has gone down for the electricity and transportation fuels pushing oil and gas prices to below; this, in turn, leaves fossil fuel companies struggling to acquire storage space for the products.
The analyst says that worldwide economic instability from the coronavirus situation will nearly be a struggle on the growth of renewable energy. Quarantine at home stopped production at factories that were manufacturing solar panels and wind turbine parts. The social distance requirement obligated solar companies to delay rooftop installation
Logan Goldie-Scot, the head of cleaner power research, said that industries needed installation to go faster rather than been sluggish if they wanted other countries to bring carbon-cutting into check under the promise of the Paris Agreement
BloombergNEF had looked back into its expectations for this year’s installation by a certain percentage for both wind-solar compared to what was projected before the coronavirus situation struck, the growth for renewable energy was stable in the past recent years even the International Energy Agency foresaw that renewable power supply would go up by 49.99 percent.