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Phoenix666 writes:

Renewable power surges as pandemic scrambles global energy outlook, new report finds:

The pandemic-induced global economic meltdown has triggered a drop in energy demand and related carbon emissions that could transform how the world gets its energy -- even after the disease wanes, according to a report released today by the International Energy Agency (IEA)[*].

The precipitous drop in energy use is unparalleled back to the Great Depression of the 1930s. But not all energy sources are suffering equally. Efforts to shift toward renewable energy could be hastened, as fossil fuels, particularly coal and oil, have borne the brunt of the decline. Use of renewable energy, meanwhile has risen, thanks to new projects coming online, and the low cost of turning wind turbines or harvesting sunlight.

[*] Link to the IEA report.

Prices for fossil fuel have plunged, while the costs of maintaining those supply chains (eg. storage) remain constant.

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