The COVID-19 pandemic has caused an unprecedented economic and social crisis worldwide. So much so, that the global economy contracted by 4.3% in 2020 and the crisis could send an additional 130 million people into extreme poverty, according to the United Nations Conference on Trade and Development (UNCTAD).
However, COVID-19 has also raised awareness of the environmental impact of modern economic activity. The shutdown of factories, the removal of vehicles from the roads and the grounding of aircraft had a notable effect, as governments around the world ordered lockdowns to slow the spread of the virus.
The fact is that there is an opportunity to take a step forward in meeting emissions-reduction targets while investing in clean energy to stimulate economies and create skilled jobs in the industry.
In order to understand what this means for the growth of renewables in the coming years, Spanish solar PV company RatedPower has released a new e-book [Stepping into a post-Covid economy] exploring the vital role of solar PV in the global recovery.
The e-book demonstrates the impact of the following key trends:
- Governments are earmarking investment for renewable energy that will support growth in the solar industry in 2021 and beyond.
- These investments will support the dual goal of reducing carbon emissions and creating jobs.
- The energy that these projects generate will count towards the participating countries’ renewable targets and help to meet the goal of the European Green Deal in reaching carbon neutrality by 2050.
- The mechanism will also support small and medium-sized enterprises (SMEs) and boost employment.
The e-book also delves into the role of battery storage in driving adoption, as well as the growing trend of corporations embracing social responsibility.
Download your copy of the e-book to get all the insights.