This report discusses how COVID-19 is beginning to influence the clean energy transition in India, specifically for the transport and power sectors, and identifies principles and strategic opportunities for the country’s leaders to drive economic recovery and maintain momentum on the clean energy transition.
Newly installed renewable power capacity increasingly costs less than the cheapest power generation options based on fossil fuels. The cost data presented in this comprehensive study from the International Renewable Energy Agency (IRENA) confirms how decisively the tables have turned.
Renewable energy had another record-breaking year in 2019 , as installed power capacity grew more than 200 GW – its largest increase ever. Capacity installations and investment continued to spread to all corners of the world, and distributed renewable energy systems provided additional households in developing and emerging countries with access to electricity and clean cooking services
At the start of 2020, global energy investment was on track for its largest annual rise in six years. But after the Covid-19 crisis brought large swathes of the world economy to a standstill in a matter of months, investment is now expected to plummet by 20%, or almost $400 billion, compared with last year