Preview Of Post-Pandemic New Energy

7 Trends That Promise Explosive Renewable Energy Growth Post-COVID-19

Joe McCarthy, August 24, 2020 (Global Citizen)

“…The COVID-19 pandemic has disrupted economies around the world…[2020 was set to be a record year for] the amount of new solar panels, wind turbines, and other sources of energy installed around the world…[Though renewable energy generation is the only one still growing, it will only] grow by 5% this year …[Seven trends] will define renewable energy in the years to come…1. China’s rapid recovery…[M]anufacturing is returning to pre-COVID-19 levels…2. Stimulus plans…Already, governments have spent trillions of dollars…[and seized] the opportunity to “build back better” by focusing on environmental goals…3. Energy storage…[T]he costs of renewable electricity storage are expected to continue to decline, allowing for greater storage capacity, while new forms of storage are emerging…4. Offshore wind…By 2030, offshore wind projects could generate 234 gigawatts of electricity annually…

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…5. Green hydrogen…Many countries are betting on green hydrogen…[and the European Union] is making green hydrogen a key part of its economic recovery plan…6. Declining costs…[With] technology breakthroughs…costs will keep falling in the years ahead…allowing low-income countries to more easily pursue renewable energy…7. Decentralizing energy grids…Communities around the world are already investing in solar and wind projects that bypass traditional energy suppliers to achieve energy independence and efficiency…[and] better adapt to natural disasters, public health emergencies, and other crises…If countries commit to a clean energy future in the wake of the pandemic, then the goals of the Paris climate agreement could be achieved…” click here for more

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