Renewables 2020: Analysis and Forecast to 2025
Executive Summary
In May 2020, the IEA provided an analysis of the impact of the COVID-19 crisis on renewable energy deployment in 2020 and 2021. Despite the ongoing pandemic affecting the global economy and daily life, renewable markets, particularly electricity-generating technologies, have demonstrated resilience. "Renewables 2020" offers detailed analysis and forecasts through 2025, focusing on the impact of the pandemic on renewables in the electricity, heat, and transport sectors.
Key Findings
- Resilience of Renewables: Despite the economic downturn caused by the pandemic, renewable energy markets have shown resilience, especially in electricity generation.
- Impact on Electricity Penetration and Prices: The crisis has had a significant impact on renewable electricity penetration and prices, though pre-crisis policies will continue to influence the future trajectory of renewable technologies.
- Equity Performance: The renewable industry's equity performance has been affected by the pandemic, reflecting broader market trends.
- Heat and Transport: Renewable energy in the heat and transport sectors are less resilient compared to electricity generation.
Detailed Forecasts
- Solar PV: The forecast overview, including regional analyses for China, the United States, India, Japan, ASEAN, Australia, and Europe, highlights the expected growth and challenges in solar photovoltaic (PV) adoption.
- Renewable Electricity: Comprehensive forecasts for various regions are provided, offering insights into future electricity generation from renewable sources.
Conclusion
The document concludes with references and a table of contents, outlining the structure of the detailed analysis and forecasts for the next five years.
Note: The provided content covers the introduction and executive summary of the report, highlighting key findings and detailed forecasts for various regions and sectors.
