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Nuclear schedules have been hit, but sector is less volatile
Only four new plants started construction in 2019, including Unit 2 at Hinkley Point in the UK.Photo courtesy EDF Energy.
Investment in global energy will fall by $400bn this year, the biggest slump in the industry’s history, as the Covid-19 pandemic fuels a collapse in energy demand.
The International Energy Agency said in a report the unprecedented investment slump follows the most severe plunge in energy demand since the second world war.
The IEA said the decline in investment is “staggering in both its scale and swiftness” and will impact every major sector, from fossil fuels such as oil, gas and coal to renewable sources including wind and solar power.
The International Energy Agency said in a report the unprecedented investment slump follows the most severe plunge in energy demand since the second world war.
The IEA said the decline in investment is “staggering in both its scale and swiftness” and will impact every major sector, from fossil fuels such as oil, gas and coal to renewable sources including wind and solar power.
The IEA said the decline in investment in areas such as clean energy technology could undermine the transition to renewable, sustainable sources of energy.
- Source: Nucnet
- Date: Thursday, 28 May 2020
- Original article: nucnet.org/news/investment-in-global-energy-generation-to-fall-by-usd400-billion-5-3-2020