2020 – Sustainably Powered Lives

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Sustainable renewable energy will be a clear pillar of the post Covid 19 world. Whilst the oil majors cut their dividends and reduce capital expenditure their investment in renewable energy has been ring fenced. This ongoing change within the oil majors demonstrates that they have both a pragmatic streak and continue to think long-term. Most were early investors in solar energy but its time was not ready. They next moved in and out of coal, pure retail and car maintenance. Today they are currently focused on gas but must be cutting their investment in new gas projects. At a time when they are focused on the image at both the community and shareholder levels their leadership in renewable energy should be welcomed. Their investment will drive technology resulting in many projects for others that do not meet their investment criteria which include size. 2020 to need to be a substantial year for solar and other renewable projects. The investment majors will continue to see the prices of solar energy fall and its ability to compete against other forms of base-load power increase. This will be especially the case as batteries improving technology and falling price. Global adoption of solar energy will see investment continue to be made in the technology.

Paul Raftery

www.paulraftery.com.au

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