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.
Mining Mega Trends and Their Impact to your Organisation's Resilience
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.
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