2020 Renewable Energy Industry Outlook: A midyear update
Exploring renewable energy trends and the impact of Covid-19
As we began 2020, the renewable energy industry was just preparing to enter a new phase of growth driven largely by increasing customer demand, cost competitiveness, innovation, and collaboration. But within a few months, the COVID-19 pandemic caused major disruption across the sector. What short-term challenges lie ahead for the industry in the aftermath of COVID-19? And what trajectory is projected for the long-term?
As the full force of the Covid-19 pandemic hit the United States in March, the renewable energy sector that was primed for new growth suddenly slowed with shelter-in-place orders, labor constraints, and supply chain disruptions. Although the industry is still grappling with the full impact of the crisis, the outlook is changing rapidly. The latter half of 2020 could be crucial for the short-term renewable energy pipeline, depending on how the pandemic situation unfolds.
Despite significant short-term headwinds, will the long-term outlook for the renewable energy industry remain positive? Explore our midyear outlook to learn how to address the challenges from Covid-19’s impact on the renewable energy industry.