As the COVID19 situation continues to develop across the globe with devasting effects on the economy and the population, experts have advised that the total impact of the escalating pandemic on a country’s economy will be offset by the increase in oil production.
The oil industry will be reshaped due to the pandemic and 2019 could be the all-time peak of carbon dioxide emissions. As a result of the coronavirus, a sharp economic decline will cut greenhouse gas pollution, and even as the economy recovers, improved efficiency and the rise of low-carbon technology and sustainable energy solutions will continue to grow.
Emissions are not falling fast enough to avoid dangerous climate change, and there is nothing to celebrate about the pandemic, however this change in pattern of emissions can at least give hope.
Various companies aims to support residents through difficult and uncertain times. Renewable energy solutions are very resilient to such a global shock as they are decentralised and located on the roof of an asset. Renewable companies recognises solar as the future of electricity generation and the key to conserving nature and building a fossil-fuel free world. A pandemic puts pressure on every part of a country’s economy and society and by enabling people to produce their own clean energy with solar, you are allowing them to stay in control of their energy consumption and bills by fixing their electricity tariff for the next 25 years.
Energy security is a vital tool in tackling a pandemic and looking to the future, given the global market situation, most companies will look into reducing their operational costs, and most consumers will value energy security over everything else. Solar allows certainty in a time where nothing is certain, in times of crisis when utility prices may rise and a sustainable energy solution such as solar gives customers a sense of reassurance.