Cheap oil has no impact on the Renewable energy sources amidst the pandemic

Energy

At the beginning of the coronavirus pandemic, that moved through the Spain workers at the Nunez Balboa, which produces 500 megawatts by the use of the solar panel, were at work and other workers in the country were at home. 

The workers had put on the protective gear and follow other safety adjustments that ensure the worker has maintained a social distance of four-square miles on the panel line. On 6th April, the power company, which is the largest in Europe, has a capacity of supplying power to more than 250,000 people who are directly on the grid. 

Iberdrola which run the grid is a multinational energy provider, has the headquarter in Spain. Iberdrola is among the many companies that provide renewable energy projects that had to provide energy despite the corona outbreak with the decline in the oil prices of the oil, which is the primary sector for the provision of electricity.

The industry has shown a positive sign, in the past years, it has become viable, and the primary competitor to the conventional fossil fuel that was the dominant power provider. The experts in the energy sector say that the market in renewable has some stability. The industry is stable despite the weather changes due to the fluctuations which cause the poised experience, which increases the effort to maintain the economies once the pandemic outbreak is over in the world. 

Xabier Viteri said that what they need now are the job opportunities and other activities. Xabier is the current director of business energy at Iberdrola, and he added that renewable energy is competitive and uses mature technology. The increase in the energy supply is some of the significant activities that some people can engage in because it is direct, and its results are immediate.

From the year 2005, the development of renewables sources of energy has outsmarted the use of non-renewable energy in the whole world. It has led to an increase of more than 72 percent of the current generation of electricity last year. The above information came from the international renewable energy agency.

Mr. Xabier added that this is the opportunity we should use to make the right choice of investment and ensure people move to the use. Investing in renewable energy is not only an option but one of the best opportunities in the business world. The best idea is to come up with a plan that will ensure that the world economy does not collapse due to the energy crisis in the fuel sector.

Leave a Reply