In the wake of the current pandemic situation, the global authorities have been pushed to think about a greener source of energy that can cater to the existing energy demands without putting much impact on the ecosystem.
Besides, there will be several other aspects that will be shaping up the perspective and overall functioning of the global energy sector in the year 2020. NJ Ayuk, who comes over as the executive of the African energy chambers, further talks about some of the key factors in the same regards.
1. Rising demand of the greener energy solutions
Recent data released by the International renewable energy agency confirms that in order to catch up to the goals agreed in the Paris agreement, renewable energy sources must hold a major part of the annual global electricity generation process.
As of now, the percentage is around 25 % and the same needs to be increased by up to 85 % by the year 2050. To achieve the same goals, countries need to invest around USD 110 trillion into the same project.