The death of the energy industry as we know it is imminent. The demise of electricity and the transport fuels part of oil and gas, roughly 50%, will be driven by entrepreneurs. I do not believe the energy industry will transform itself into what is ecologically desirable from within the industry. That is, resulting from regulatory or public policy changes, or from business development or intrapreneurship.
Lockdown is having a strange effect on energy usage in the UK. You may have noticed a rise in your energy bills due to staying home more, however the opposite is happening on a wider scale. Electricity use across the country is significantly lower than it should be at this time of year, due to businesses and industries being forced to shut down. Since lockdown began in March the daily demand for energy has dropped by up to 20%.
Currently we are experiencing unprecedented conditions with a Global pandemic upon us and a global recession just around the corner. In this scenario oil prices are falling, investors are holding their money tight and renewable markets are embracing for shocks, as the international supply demands patterns are changing very swiftly.
The Energy Sector Management Assistance Program (ESMAP) is a World Bank administered program for global knowledge and technical assistance. ESMAP has finally concluded its solar potential mapping in Pakistan with the support of PITCO, AEDB, Quaid-e-Azam Solar Power pvt ltd and various educational institutes such as NUST etc in 2017.