Coronavirus: IEA, lockdown pushes towards renewable sources

The lockdown due to coronavirus has not only caused a collapse in the demand for fossil fuels, but has also pushed the electricity industry towards renewable sources, which in 2020 could reach 40% of the energy mix. The International Energy Agency (IEA, OECD body) writes this in its annual report "Global Energy Review".

"With travel, commerce and mobility limited by various lockdown measures, the demand for fossil fuels is collapsing in the world for coal, oil and natural gas - writes the IEA in a statement presenting the report -.

At the same time, we are witnessing a major shift towards low-emission electricity sources, including wind, photovoltaic, hydroelectric and nuclear. Low-emission technologies are set to become the largest global source of electricity generation, reaching 40% of the mix in 2020. "

"This is a historic shock for the entire world of energy - commented the executive director of the IEA, Fatih Birol -. In the midst of today's unprecedented health and economic crises, the collapse in demand for almost all major fuels it's shocking, especially for coal, oil and gas. Only renewables are holding up during this unprecedented collapse in the use of electricity. It is still too early to determine long-term impacts, but the energy industry emerging from this crisis will be significantly different from what it was before. "

The collapse in energy demand in 2020 according to the IEA is destined to be seven times that after the financial crisis of 2008, and points towards a record drop in carbon emissions, of almost 8%, bringing them to their lowest level in the decade.