The impact of COVID-19 on the renewable energy market

There are approximately 60,000 wind turbines in the U.S., according to the American Wind Energy Association. (Photo: Bloomberg)

Due to the COVID-19 pandemic, the two-decade-long growth behind renewable energy is expected to level off this year, but not for long.

According to a recent study by Report Linker, the global renewable energy market is on target to reach the $226.1 billion mark in 2021. But while COVID-19 has caused the renewable energy industry to take a hit this year, the damage shouldn’t influence the trajectory of renewable energy over a longer time span. In fact, the outlook presents some promising opportunities in the near future.