Tuesday, June 9, 2020
Policy responses to the global recession have the potential either to accelerate or retard the energy transition. Economic and social behavioural change as a result of forced learning during lockdowns and continued social distancing may prove permanent.
- The fiscal stimuli to ease COVID-19 impacts will expand the role of the state in major economies; this may aid meeting climate targets.
- Renewable energy will continue increasing its share of electricity generation as planned projects come online and costs fall.
- The IEA sees energy sector investment plunging by 20% this year; many energy firms may struggle to survive.