Navigating the Clean Energy Transition in the COVID-19 Crisis
What does the COVID-19 crisis imply for the energy transition required to keep global warming at bay? A commentary written by Bjarne Steffen, Florian Egli, Michael Pahle and ETH Prof. Tobias Schmidt aims to help energy policymakers navigate through the crisis. In their view, structuring the challenges that arise in different time horizons and offering guiding principles for responses are most useful at this stage.
As of the spring of 2020, the COVID-19 pandemic has developed into a global public health emergency, in turn triggering a severe economic crisis. This commentary aims to help energy policymakers navigate through the crisis, focusing on policy frameworks targeting carbon-neutral energy systems. The authors differentiate among three different policy horizons:
- the short-term horizon (months), focusing on the immediate crisis response to the public health emergency and looming economic recession;
- the mid-term horizon (years), focusing on stimulating economic recovery when the public health impact is contained, but the economic impact keeps shaping the macroeconomic environment;
- and the long-term horizon (decades), focusing on how to make policies for the energy transition proof to similar shocks in the future, based on the lessons learned during the COVID-19 crisis.
Conclusions
Three principles are recommended:
- Avoid overreacting in the short term.
- Make use of new opportunities for the energy transition in the mid-term.
- Develop new policy designs that can withstand future shocks.
While now the policy attention is rightfully focused on the public health crisis and mitigating its immediate effects, it is important to navigate the new situation without jeopardizing the imperative clean energy transition.
- Commentary: "Navigating the Clean Energy Transition in the COVID-19 Crisis"
- Journal: Joule (2020)
- Author(s): Bjarne Steffen, Florian Egli, external pageMichael Pahle & Tobias Schmidt
- For more information and the full commentary, please visit the external pageJoule homepage.