Coronavirus response should promote clean energy — IEA
- Ben Geman, author of Axios Generate
Photo: picture alliance / Contributor/Getty Images
The International Energy Agency is urging governments to weave policies that support climate-friendly energy into their economic responses to the novel coronavirus.
What they're saying: "These stimulus packages offer an excellent opportunity to ensure that the essential task of building a secure and sustainable energy future doesn’t get lost amid the flurry of immediate priorities," IEA executive director Fatih Birol said.
Why it matters: Birol's LinkedIn post Saturday morning warns that COVID-19 and the associated market tumult will "distract the attention of policy makers, business leaders and investors away from clean energy transitions."
The big picture: He says boosting deployment of technologies including wind, solar, and battery storage provides "twin benefits" of stimulating economies and moving to cleaner energy.
Threat level: His new post comes amid signs that COVID-19 is creating headwinds for these sectors as supply chains are disrupted, economies slow and policymakers are consumed with the response.
- The research firm BloombergNEF this week said additions of new solar power generating capacity are slated for fall this year for the first time in decades, among other effects.
Go deeper: The impact of coronavirus spans the energy universe