Is it the ideal time to invest in renewable energy?
That’s what most “experts” say, but none of those experts knew how to foresee what was coming towards us with the Covid-19.
After the shock and economic disaster caused by the virus our leaders have been forced to think twice, and it seems to make sense that the investments to be made to recover part of the economic damage should be made in the direction of improving our relationship with nature, and trying to avoid future disasters.
But I am not so clear. One thing is what “ideally” should be done, and something else is what is actually done.
All the leaders of the world will want to return to “normality” as soon as possible, and especially Mr. Trump, who has elections at the end of this year. EVERYONE is interested in having the maximum employment in their country and the economy growing.
And for this, the easiest thing is to repeat what was done before, and leave new ideas for later on. No one will say no to other ways of doing things, but almost certainly they will not prioritize them. Their interests are focused on immediate results. And through them to the votes of their citizens.
They have all promised billions and trillions of money in stimuli, but it remains to be seen how it is channeled and what is really prioritized. The fine print on the contracts usually contains the most important details.
There are very strong “lobbies” of the “businesses from before” (from a few months ago) that are going to defend their interests with all they have. They are powerful and have a lot of money and influence, and they know how to “convince” the politicians in power.
Today renewable energies, according to different parts of the world, represent between 10 and 30% of the total generated, and although they have grown a lot, it has also grown the demand for energy and they are building fossil fuel plants that will have a useful life for over 30 years.
Currently, solar and wind energy create more jobs than coal or natural gas, but they have the problem of their variability with atmospheric conditions. And a back-up power is needed for when they are not able to generate enough power to support consumption.
As for the way of working and consuming (in short of living), most people will want to continue “as before”, because we all find it difficult to change, especially if those changes are profound in our lives.
If the “ruling classes” do not make citizens aware of the urgent need for change, it will not take place. And if it does happen, it will take a while which is very difficult to consider, but it won’t be short.
That renewable energy has a future there is no doubt. For those who are young, it seems reasonable that investing in them makes practical and economic sense. For the rest, it depends on how they think and feel.