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Business News of Tuesday, 23 June 2020

Source: Laud Business

Renewable energy to rescue economy post coronavirus – Analyst

The government must focus on renewable energy in rebuilding the economy after the coronavirus pandemic, a Research and Policy Analyst, Raymond Nuworkpor, has urged.

He said the sector has the ability to create more job opportunities for the teeming unemployed youth in the country.

Solar and wind have also demonstrated to be the cheapest source of electricity that the country can rely on for development, he added.

“The time is now, this is our biggest opportunity to generate jobs, reduce the cost of electricity, contribute to the climate change agenda and become a hub for energy export to the West African Market,” he said.

He added: “Every effort by government in restarting the economy after COVID-19 must necessarily make renewable energy its backbone.

“Solar and wind energy are rapidly becoming the cheapest source of electricity, offering the biggest opportunity to generate jobs and also providing wider benefits to the large ecosystem,” he said.

The energy market is undergoing a rapid transition from Fossil fuel to Renewable energy as a result of strong climate change policies and rapid advancement in low – carbon technology

Renewable energy has demonstrated during this COVID-19 period that, it is a robust sector, the market is stable & sustainable, profitable and cost-effective.

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