Although the COVID-19 crisis caused the shutdown of businesses and industries resulting in sluggish demand for power, it also resulted in reduced pollution reminding about the benefits of renewable energy.
Verdict has conducted a poll to assess the possible future share of renewable energy in the power mix amid the disruption caused by the COVID-19 crisis.
Analysis of the poll results shows that the share of renewable energy is expected to grow as opined by a majority 51% of the respondents, who noted that the share of renewable energy will grow.
While 19% believed that the future share of renewable energy will depend on policy incentives, 17% of the respondents believed that the share will decline in the short-term and then grow. A minority 12% of the respondents felt the share will only decline in future.
The analysis is based on 385 responses received between 30 April and 18 May.
Impact of COVID-19 pandemic on the renewable energy sector
The COVID-19 pandemic has highlighted how low carbon emissions have a positive impact on the environment. As people remain indoors and businesses are shut down, the world is experiencing a dramatic decline in emission levels.
A report released by the International Energy Agency notes that global carbon emissions are expected to decline by 8% in 2020 to reach the levels recorded a decade ago. The positive change in emission levels has led environmentalists to advocate the need for a transition towards renewable energy to maintain these levels and avoid potential crises in future.