Coronavirus Should Recharge the Push for Zero-Carbon Energy
Developing countries that will drive energy demand and still rely on fossil fuels have the most to gain from making the switch.
Still the best bet for the future.
Photographer: Ruhani Kaur/Bloomberg via Getty Images
As the coronavirus pandemic continues, Bloomberg Opinion will be running a series of features by our columnists that consider the long-term consequences of the crisis. This column is part of a package on how to navigate turmoil in energy markets. For more, see Liam Denning on how to build a more sustainable U.S. energy system and Meghan O’Sullivan on the strategic challenges the U.S. faces from plunging oil prices.
A dozen years ago, New Energy Finance founder and CEO Michael Liebreich asked a room full of California electricity sector executives and regulators what their strategy would be when a grid flooded with solar power pushed their power prices below zero. Replies ranged from “that’s ridiculous” to “that will never happen” to “what are you talking about?”