As governments focus on dealing with the Covid-19 health emergency, they are increasingly turning their attention to the impact of shutting down their economies and how to revive them quickly through stimulus measures. Economic recovery packages offer a unique opportunity to create jobs while supporting clean energy transitions around the world.
Energy efficiency and renewable energy like wind and solar PV – the cornerstones of any clean energy transition – are good places to start. Those industries employ millions of people across their value chains and offer environmentally sustainable ways to create jobs and help revitalise the global economy.
But more than just renewables and efficiency will be required to put the world on track to meet climate goals and other sustainability objectives. IEA analysis has repeatedly shown that a broad portfolio of clean energy technologies will be needed to decarbonise all parts of the economy. Batteries and hydrogen-producing electrolysers stand out as two important technologies thanks to their ability to convert electricity into chemical energy and vice versa. This is why they also deserve a place in any economic stimulus packages being discussed today.