Like a bat out of hell part four: Renewables set for rebound
The fourth in a five-part series from the BRG energy and climate practice examines how investment in renewable energy has been temporarily slowed and why it will bounce back fast
As the global economy rebounds from the coronavirus pandemic, we are increasingly bullish on the future of investment in renewable energy and grid modernisation. This is contrary to widespread speculation about protracted delays to renewable investments and energy transition policies resulting from the ultra-low gas prices induced by Covid-19 and economic recession. Proponents of this theory hold that today’s low gas prices will last for years, pushing power prices well below renewable energy break-evens. However, this view ignores key long-term social and market forces. Rock-bottom gas prices and falling power consumption have slashed electricity prices. Electricity demand in the US fell by
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