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In the UK alone, 2020 has so far seen a Government commitment to zero-carbon by 2050, renewed Government support for onshore wind and storage and a string of records broken. 2019 further marked the highest number of British renewable planning applications submitted, and globally, three-quarters of all energy capacity installed was renewable. Additionally, one-third of all international energy use also came from low-carbon technologies.

In terms of milestones, the UK has also beaten its all-time peak solar power generation record. On 20 April, the UK reached a peak of 9.68GW of solar generation, according to the Sheffield Solar Live PV Gen Tracker.The previous record was set in May 2019, and the latest landmark figure adds to an incline of continuous growth. These numbers demonstrate the enormous amount of solar installed across the UK throughout the 2010s, and they reflect the unusually bright and clear spring weather that the UK is currently basking in, according to the Solar Trade Association.

Yes, COVID-19 has set back some industry progress, but a new report by the International Renewable Energy Agency (IRENA), has set out a powerful case for not letting 2020’s momentum stall. IRENA argues that by accelerating renewables investment, we could power an economic recovery from COVID-19 worth $100 trillion.

The agency estimates that investment in renewables will deliver a global GDP return of $98 trillion above the ‘continuing as we are’ scenario. They calculate that every dollar invested in green tech will realize an ROI of between $3 and $8.

Ruth Chapman, MD of renewables consultancy Dulas, states that the global crisis has fundamentally “exposed the flaws and fragility of the non-renewables system. Oil prices are plummeting and are throwing chaos into multiple markets. Renewables provide the sustainable and stable growth that the world needs. By acknowledging IRENA’s case and responding to it, global governments can provide a better future for their countries and for the planet as a whole.”

IRENA’s report also outlines that jobs in the green and low-carbon technology sectors would quadruple to 42 million positions over the next 30 years, and that global health and welfare scores would improve dramatically.