IEA sees unique opportunity for clean energy during Covid-19 crisis

Published onMay 21, 2020

In the midst of a pandemic that’s shaken energy markets to the core and threatens to send the global economy into a depression, renewable energy is holding steady. In the apt words of the world’s premiere advisory body and data source for energy, renewables remain ‘resilient.’  The International Energy Agency (IEA), in its Global Energy Review 2020, provides a snapshot of energy demand for all major fuels this year, as well as CO2 emissions. The flagship report, released late last month, follows the ‘Global Energy and CO2 Status Reports’ of 2017 and 2018. It shows a steep decline in energy usage worldwide through mid-April, with a fall in demand for all energy sources except renewables, specifically wind, solar and hydroelectric power. The IEA asserts that renewable energy projects will be more solid financially than others post-crisis.