Pandemic push towards renewable energy


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Nowadays, sustainability and renewable energy have become a major topic, due to the increasing population of our planet and the limited availability of non-renewable resources. Renewable resources are invading the landscape, but we still need to believe in and invest in such a new approach to energy. Fossil fuels are sure to come down, with the possible exception of natural gas with some subsidies. The financial scenario also encourages an energy transition towards the goal of “zero emissions”: more and more companies are, in fact, divesting from fossil fuels as they prove to be declining businesses. The latest International Energy Agency (IEA) report estimates that renewables will meet more than 40 percent of total energy demand in the coming years. The growth in renewable energy is the result of technological innovation that has increased production efficiency and enabled sharp price declines, especially solar energy. Solar energy is one of the most popular alternative energy sources, as it produces heat and electricity from sunlight. Space heating or lighting also contributes to the production of solar energy. The coronavirus pandemic could have positive consequences: The crisis appears to be accelerating the transition from fossil energy sources to renewables. A report by BP, the former British petroleum company, analyzed the impact of Covid-19 and pointed to the decline in absolute terms in oil demand for the first time in recent history. The company’s annual report on the future of energy indicates that oil will be replaced by clean electricity from wind farms, solar panels and hydroelectric power stations as renewable energy has proven to be the fastest growing source. The most pessimistic of the three scenarios for renewable versus fossil-based resources is that levels of oil consumption will remain stable until 2035 when they will likely start to decline. The epidemic may have given a green turn to the energy ecosystem; Economically advanced countries are implementing more ambitious climate policies and increasing carbon taxes, with an emphasis on environmental transformation to boost recovery. The growth in the sales of electric, hybrid and hydrogen cars will affect the demand for oil, as it is expected to decrease by up to 80 percent by 2050. The commitments made by the countries of the world to the Paris agreement to keep global temperatures below 2 degrees compared to levels Pre-industrial, they cannot be discarded. All of these changes will also put pressure on networks. Small grids, solar storage systems, electric vehicle chargers, distributable energy loads, and other distributed energy resources will play an increasingly important role in determining the balance between supply and demand for electricity. .


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