As the world is experiencing an increase in COVID-19 pandemic restrictions to control the spread of the coronavirus in various countries and places has made most of the people to stay at home, most of the business has closed, and there is a barn in global travel. The measures have led to significant economic fall and have brought a lot of depression in the world. In the energy sector, there is a visible impact across the globe, and most researchers have predicted a fall of 6 percent by the end of this year, including the renewable energy sector.
According to the estimates done by Mackenzie Wood on the world solar and energy installation storage, they might fall by more than 20 percent, unlike the projections that were during the pre-COVID-19 projections. The installation of the wind turbines might decline by 4.9 gigawatts (GW), which is more than 6 percent. The reduction in the installation of renewable energy and measures to control coronavirus spread has led to a loss of more than 106,000 jobs in the whole of March in the United States alone. The loss doubles the 51,000-job loss caused by the drilling and refining in the same period of a month last year. According to the analysis, more than 15 percent of the total workforce may lose jobs in April, which is more than 500,000 jobs.
As the governments in the whole globe move to create ways that they can create jobs on the falling economies, these two issues are apparent, the people should invest in the commodity that increases the wellbeing and the health of the residence of a country. The second thing is to concentrate on the reduction of infrastructure and economic vulnerabilities. The development of the polluting industry and the development of the old sectors is not the solution that people should look on.
Renewable energy on the other side has led to a reduction in air pollution resulting in a reduction in the diseases. More than 4.2 deaths yearly have a link to the exposure of the polluted air, and the current analysis for Harvard revealed that most of the people living in the regions that experience contaminated environmental towns have more chances of dying with COVid-19 diseases. Renewable energy helps in the reduction of greenhouse gases and protects people from the change of the climate. The use of renewable energy is economical and can cause the decline of the fuel charges