Top 10 energy trends
The International Energy Agency (IEA) forecasts that additions of renewable electricity capacity will decline by 13% in 2020, compared to 2019, marking the first downward trend in the sector since 2000. This is a 20% downward revision compared to the IEA’s original forecast for the year, which had 2020 as being a record year for renewable power.
This slide reflects possible delays in construction activity due to supply chain disruptions, lockdown measures and social distancing guidelines, and emerging financial challenges. It also considers policy uncertainty and market developments due to the impact of the COVID-19 outbreak.
However, if we look closely at the energy sector, we can still observe various signs that suggest that there will be a rapid transformation for future developments in the sector. Governments around the world are continuing to pass legislation to incorporate sustainable energy sources and technologies, so as to better enable the efficient use of energy systems.
While renewable energy projects may have stalled or slowed down in 2020, they are still expected to come online in 2021, which in turn will lead to a rebound in capacity additions. Therefore, StartUs Insights has conducted a n exhaustive analysis and carried out data-driven research to identify 10 key Energy Industry Trends that will impact the sector in 2020 and beyond.
These key trends are: