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Jupiter Solar Power Limited is an Oil and Energy company located in Kolkata, West Bengal, India.
Article | March 23, 2020
The various impacts are occurring both now and into the future. Most changes don’t bode well for acting on climate change and transitioning to cleaner energy. Global carbon dioxide emissions are likely to drop this year, due to the global economy faltering. That’s not a silver lining to the novel coronavirus. It’s like a person who loses weight while sick. It’s a byproduct of a bad situation and by definition should and will not last. Indeed, since the Industrial Revolution, the world’s emissions have not gone down except briefly during economic crises. These incidents merely show how difficult it is to reduce emissions in an economically sustainable way.
We are certain that everyone involved in renewable energy projects are thinking about the impact Covid-19 will have on your projects being planned, built or operated. The following blog is not to be used as a full guideline, but rather an overview of our perspective on the situation. With the global Covid-19 escalation, it is likely that both the developers and the OEM’s are thinking “what impact will Covid-19 have on the completion of my project” and “can I still meet my PPA deadline?’ The first question to consider is whether a delay caused by a Force Majeure event insurable? The short answer is that no, a delay in this scenario would not be covered. Insurance is about Physical Damage to the subject matter insured, which is the Works. An outbreak of Covid-19 is not a Physical Damage event.
There are many ways the Corona Virus pandemic will change our world forever including the impact it will have on various industries. Our industry will be changed in ways we cannot yet imagine. However, some of the positive and negative impacts it will have are beginning to emerge including on oil demand and prices, production of equipment for renewables such as solar panels, carbon emissions and cancelling of key events.
Despite advances in technology, the world is still heavily dependent on fossil fuels like coal and oil for energy production. Our lifestyles require a lot of electricity running through our homes, but fossil fuels are finite and will eventually run out. Sunshine, on the other hand, is plentiful and will not run out anytime soon. We can make the decision today to switch to a cleaner and smarter energy solution by using solar panels to power our homes. Here are some of the top ways solar energy is better for the environment.
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