As we move towards a greener, more sustainable environment, there continues to be advances in renewable energy that reduce our carbon footprint with every new generation. Being an active member of this movement makes it pretty cool to see what companies are taking specific initiatives, who emerges with new technology, and how fast it’s all adopted.
2019 marked a record year for wind energy capacity according to the Global Wind
Report from the Global Wind Energy Council (GWEC). Capacity was increased 19% thanks to some of the biggest players in the industry: the United States and China. Numbers are uncertain for this year as COVID-19 still continues to impact these major markets, causing experts to have a tough time predicting the installations of more wind power for 2020 and beyond.
Rafael McDonald, director for gas, power, and energy futures at IHS Markit expressed
his concerns with the pandemic by stating:
“We’re talking about a recession…at least a US recession and probably more of a global recession, and we’re expecting that that’s going to lead to flat-to-negative power demand growth,”
The $2 trillion stimulus package approved by the senate did not include relief or assistance in the renewable energy sector which poses problems for many solar companies. 500 of these companies have already signed a letter addressing Congress in hopes of some assistance in stabilizing the solar and renewable energy industries.
Even in these tough times, the adoption of renewable energy proves to be a smart play because of the low costs associated with these methods of energy production. States continue to push for cleaner energy with smaller initiatives being the focus at this time, such as deploying smart meters across the globe for parking. COVID-19 will definitely apply pressure on renewable energy industries, but there is no doubt that when all the dust has settled, we’ll continue to push for a greener planet.