Read the full story at The Conversation.
The renewable energy industry, which until recently was projected to enjoy rapid growth, has run into stiff headwinds as a result of three era-defining events: the COVID-19 pandemic, the resulting global financial contraction and a collapse in oil prices. These are interrelated, mutually reinforcing events.
It’s much too early to be able to assess how large their economic, environmental and policy impacts will be. But as someone who has worked on energy policy in academia, the industry, the federal government and Wall Street, I expect a significant short-run contraction followed by a catch-up period over the next few years that returns us to the same long-term path – perhaps even a better one.