Renewable energies under threat in 2020 from coronavirus, oil price slump
(Climate Home News, 15 Apr 2020) Despite a historic deal between major producers to prop up oil prices, cheap fossil fuels and the economic slowdown caused by the coronavirus risk are hampering a shift to renewable energies in 2020.
The International Energy Agency (IEA) said it is reviewing its October 2019 forecasts that 2020 will be a record year for additions of electricity generation capacity for solar, wind and other clean energies, as well as that total renewable-based power capacity will surge by 50% between 2019 and 2024.
“There’s a chance that 2020 may not be a record,” said Heymi Bahar, IEA senior analyst of renewable energy markets and policy, told Climate Home News. “Every day we see something either about a new lockdown, or a resuming of some construction activity.”
Covid-19 had killed more than 126,000 people worldwide by Wednesday.
Installations of solar photovoltaic (PV) panels on the roofs of businesses and homes, expected to help drive future growth, were hard hit by the economic slowdown. They often require workers to be physically close together to install panels, which is difficult with rules on social distancing to slow the spread of the coronavirus.