COVID-19 Will Be A Positive Turning Point for The Renewable Energy Sector
It comes as no shock to people who actively read the news that the COVID-19 pandemic will cause big changes to our economy around the world.This is the time that people will see how sectors will fight their way back to the top even while facing difficulties and this includes the solar energy sector.
On April 30th, the International Energy Agency (IEA) recently published an analysis of the impact of COVID-19 on the global energy sector around the world. It revealed that by 2020, the global energy demand would reduce by 6% which will especially impact the coal, oil and gas sector.
However according to the IEA, the pandemic has also caused a major shift towards the demand for the solar and wind energy sector which is expected to rise by 5% in 2020 and reach 40% of the global electricity generation.
The renewable energy sector is proving to be the most resilient sector that has not been impacted negatively by the COVID-19 pandemic. With its growth in demand, the UAE is set to reach its goal of being 50% powered by renewable energy by 2050.
Additionally, companies are likely to have been placed under tremendous pressure due to the COVID-19 pandemic negatively affecting the economy around the world. They may be forced to make financial budgeting cuts and one way to reduce their savings is by starting to use solar power as an alternative to non-renewable electricity.
By signing to install solar-powered systems to buildings, companies will be able to see an immediate reduction in the payment of electricity bills for renewable energy compared to non-renewable once the project is finalized.
In case new customers will be looking towards shifting to solar energy in the next year, TotalEnergies Solar Distributed Generation Middle East is a reliable and smart solar energy supplier to sign with. Companies can see immediate savings in their budget and zero installation and maintenance costs from their end.