Renewables spending must double as pandemic squeezes broader energy funding – IEA

PV TECH | The International Energy Agency (IEA) has urged world countries to drive a doubling of renewable investment this decade, helping reverse a flatlining aggravated by the COVID-19 outbreak.

A new report from the agency warned the pandemic will trigger a US$400 billion drop (equivalent to a 20% contraction) in global energy spending in 2020, where a 2% year-on-year increase had been predicted before the health emergency came to grip the world.

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