Dialoguepk

13 May 2020 Author: Tim Buckley, Institute of Energy Economics and Financial Analysis The COVID-19 pandemic has changed the world. It is a truly global threat, ignoring national borders and domestic politics. But this pandemic highlights the need for a global response to a second key global threat: climate change. It is now more important than ever to listen to the advice of experts before it’s too late. Despite the current  global economic shutdown , the global energy transition is well underway. This transition is being driven by renewable energy technology that disrupts incumbent industry business models, much like the rise of the mobile phone and the internet. The technology disruption is fundamentally reshaping the global energy landscape. A key impetus is the dramatic, ongoing deflation in the cost of solar energy and battery storage. Both have seen costs drop 80 to 90 per cent over the last decade and the Institute for Energy Economics and Financial Analysis (IEEFA) expects both