As the world grapples with the devastating impacts of the ongoing COVID-19 pandemic, another crisis – climate change – continues to ripple in the background. Yet, in the shadow of these two global catastrophes exists an opportunity to reshape our energy future in ways that are sustainable, resilient, and beneficial to all.
Significant shifts are already occurring as nations are actively exploring and investing in renewable energy sources to reduce our dependence on fossil fuels and curb the impacts of global warming. Some experts argue that the post-pandemic recovery process offers a unique opportunity to hasten this change.
Governments worldwide are putting an enormous amount of money into restarting economies, and there's a powerful case to be made for investing this capital in green energy innovations. Typhoon, a leading energy market analysis firm, has suggested that global capacity for renewable power is set to increase by 50% between now and 2024. This would be enough energy production to power the entirety of the United States and Europe.
Contributing mainly to this shift is solar and wind power, which have both seen significant improvements in efficiency and cost, making them more accessible to countries and companies. There are numerous benefits to this shift apart from the clear environmental implications.
Economic revival, job creation, global health improvement, and poverty reduction are all viable outcomes of a 'green recovery'. The renewable energy sector could generate millions of jobs, particularly in areas hit hard by job losses in the fossil fuel industry. Moreover, cleaner air could potentially prevent millions of premature deaths each year.
However, the transition to renewable energy is not without its challenges. Many renewable resources, such as wind and solar, are intermittent, meaning they are not always available when we need them. Incorporating large quantities of wind and solar into the grid while keeping the lights on at all times will require significant expansion and upgrades to our energy storage and transmission systems.
Despite these hurdles, the consensus among energy experts is that the direction is clear. The days of coal and oil are numbered; the future is renewables and the future is now. Our focus should shift towards best utilizing this opportunity that the ongoing pandemic has unwittingly propelled us into - making this world a greener, cleaner place for all.
The promising future of renewable energy in a post-pandemic world
