Post-COVID recovery: Clean energy, innovation and global investment trends

Damilola Aishat Alada *

Faculty of Law, University of Ibadan, Nigeria.
 
Research Article
International Journal of Science and Research Archive, 2021, 04(01), 517–535.
Article DOI: 10.30574/ijsra.2021.4.1.0180
Publication history: 
Received on 13 October 2021; revised on 23 November 2021; accepted on 29 November 2021
 
Abstract: 
The COVID-19 pandemic has fundamentally reshaped global energy systems, creating both unprecedented challenges and unique opportunities for clean energy transition. This study examines the impact of the pandemic on clean energy investments, innovation trajectories, and global market dynamics during the recovery period from 2020-2021. Through comprehensive analysis of investment data, policy responses, and technological developments, this research reveals that while renewable energy faced initial setbacks with a 13% decline in capacity additions in 2020, the sector demonstrated remarkable resilience with strong recovery signals emerging in 2021. The study finds that global clean energy investment reached approximately $750 billion in 2021, driven by supportive government policies, declining technology costs, and enhanced focus on sustainable recovery measures. Key findings indicate that China, the European Union, and the United States led clean energy investments with $380 billion, $260 billion, and $215 billion respectively in 2021. The research identifies critical innovation areas including hydrogen technologies, energy storage systems, and grid modernization as essential components of post-pandemic energy transformation. Despite positive trends, significant gaps remain in financing mechanisms, particularly in developing economies, and the pace of innovation requires acceleration to meet climate targets. This study contributes to understanding the complex dynamics of energy transition in crisis contexts and provides insights for policymakers and investors navigating the post-pandemic energy landscape.
 
Keywords: 
Clean Energy; COVID-19; Renewable Energy Investment; Energy Transition; Green Recovery; Innovation; Post-Pandemic Recovery; Sustainable Energy; Climate Policy; Global Investment Trends
 
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