IEA: Renewables only energy source resilient to steepest fall in demand since WW-II
NEW DELHI: The International Energy Agency on Thursday said renewables will be the only energy source that will be resilient to the coronavirus pandemic wiping out demand for energy the most since World War-II and seven times greater than the slump caused by the global financial crisis.
According to the agency’s World Energy Review, energy demand is expected to fall 6 per cent this year. In absolute terms, this is unprecedented and equivalent of losing the entire energy demand of India, the world’s third-largest energy consumer. Each month of worldwide lockdown at the levels seen in early April is seen reducing annual global energy demand by about 1.5 per cent.
