Russel Gold and David Hodari on The Wall Street Journal that the coronavirus pandemic has accelerated the shift to clean energy.
- Capital spending on energy this year is set to plunge by 18%, as global energy demand is expected to fall by 5%
- The International Energy Agency expects renewables to provide 80% of the growth in global electricity demand through 2030.
- Lower interest rates are also helping renewable energy projects, which have high upfront costs.
“The world’s transition to cleaner sources of energy is gaining speed as the coronavirus pandemic accelerates a shift in investment away from fossil fuels, according to the International Energy Agency.”
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