NEWS
Oil Companies Are Collapsing, but Wind and Solar Energy Keep Growing
04/09/2020 Since 10 months

The renewable-energy market is expected to keep growing, though more slowly, in contrast to fossil fuel companies, which have been hammered by low oil and gas prices.

A few years ago, the kind of double-digit drop in oil and gas prices the world is experiencing now -because of the coronavirus pandemic- might have increased the use of fossil fuels and hurt renewable energy sources like wind and solar farms. That is not happening today.

In fact, renewable energy sources are set to account for nearly 21 percent of the electricity the United States uses for the first time this year, up from about 18 percent last year and 10 percent in 2010, according to one forecast published last week. And while work on some solar and wind projects has been delayed by the outbreak of the pandemic, industry executives and analysts expect the renewable business to continue growing in 2020 and next year, even as oil, gas and coal companies struggle financially or seek bankruptcy protection.

This post is also available in: Spanish

LATEST NEWS
Chile’s Energy Efficiency Law was approved
The Energy Efficiency Law aims to make rational and efficient use of resources. It covers the three sectors that account for most of the country's energy consumption: transport (37%); industry and mining (40%) and the...
Since 2 weeks Read More
Costa Rica’s National Stock Exchange rewards companies that contribute to a sustainable capital market
Issuers, investors, Safis, stock exchanges, were part of the companies recognized with the BNV Sustainability Awards 2020. November 2020. The BNV Sustainability Awards are held for the second consecutive year. This ...
Since 2 months Read More
Third TCFD Status Report Shows Progress & Highlights Need for Greater Climate-Related Disclosures and Transparency
The TCFD also issues implementation guidance and opens public consultation period to solicit input on forward-looking metrics The Task Force on Climate-related Financial Disclosures (TCFD), established by the Finan...
Since 4 months Read More