Renewable sector facing risks from unforeseen quarters

Financial Tribune – The International Energy Agency has predicted that the world will add 1,200 gigawatts of renewable energy by 2024, a 50% increase on what’s in place now. That would see renewables’ share of global power generation rise to 30% by 2024 from 26% today.

But for now that seems to be a tall order, mainly due to the rapidly spreading coronavirus across the planet that is collapsing economies big and small and by extension undermining demand in all almost sectors, save for the health and medical industry.

Solar accounts for 60% of the anticipated rise, and the IEA reckons photovoltaic stations are becoming competitive with new fossil fuel plants faster than expected.