DOES LOWER OIL PRICES HALTING THE RENEWABLE ENERGY REVOLUTION?
Renewable energy represented 72 percent of all new power generation in 2019 and is estimated to grow another 50 percent by 2024.1
Many of the estimates made for its growth, however, were made prior to the onset of the COVID-19 pandemic and the collapse in oil prices. Worries are building that with cheaper oil and a sustained disruption in global supply chains, renewable energy may lose momentum.
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