Renewable energy wins over oil and gas in post-coronavirus world


The stoppage of economic activity due to the Coronavirus favors renewable energies, while the oil and gas industry have dropped more than 50%.

It takes several years for a full recovery to occur, balancing the market either by an increase in demand or a lower adjustment.

Renewable energies have an opportunity to gain more market share while oil and gas spending recovers.

With the low interest rates that are promoted to reactivate the economy, it is a good time to bet on renewable energy projects since the costs they have are mainly of initial capital. Once the plant is operational, maintenance is minimal.

Western countries consider that fossil fuels are part of the problem of carbon emissions, so they are more committed to renewable energy. While the developing countries are betting on renewables because they are cheaper, faster to build and easier to connect to electricity grids.

With oil and gas weakened, it is time to harness renewable energy.

Personal opinion

There is a before and after of the coronavirus. It is time to bet on renewable energy and take a step forward in the battle against climate change.

Renewable energies, facing the future, can offer energy stability for all countries. The low maintenance cost will favor its use. In the event of another economic downturn or the end of fossil fuels, supply will not be affected.

Alfredo Rosés