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Global Energy demand is expected to fell by 4 percent in 2020 but demand for renewable energy to grow

EnergyOct 22, 2020
Global Energy demand is expected to fell by 4 percent in 2020 but demand for renewable energy to grow
The Covid-19 pandemic upended energy markets in 2020, with lockdowns, crimped industrial activity, and restrictions on travel causing global energy consumption to contract by an estimated 4%. Demand for oil, gas, and coal all fell this year, although consumption of renewables, especially solar and wind, increased. Consumption of renewables (including solar, wind, hydro, geothermal, and biomass) will grow in both 2020 and 2021, outpacing fossil fuels. For solar and wind, however, growth will be much stronger next year. The Economist Intelligence Unit forecasts a combined increase of 13%, which reflects the resilience of low-carbon sources even as the Covid-19 pandemic depresses overall energy consumption.

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