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Coronavirus Pandemic Speeds Shift to Cleaner Energy

Coronavirus Pandemic Speeds Shift to Cleaner Energy

Russel Gold and David Hodari on The Wall Street Journal that the coronavirus pandemic has accelerated the shift to clean energy.

The C3 Take
  • 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.”

Read the full article here.

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