Powering Post-COVID-19 Resilient Recovery with Green Stimulus
As the coronavirus disease (COVID-19) pandemic spread globally in early 2020, many governments enacted lockdown measures as an initial containment response. These lockdowns, while effective in slowing infection rates, have also had substantial economic consequences. A series of supply and demand shocks, workforce and supply chain disruptions, and other impacts of the pandemic and ensuing lockdowns have upended the livelihoods for much of the world's population. This quick read spotlights how green stimulus plans and other recovery measures can support near-term recovery and enable longer-term power system resilience against future threats. The term “green stimulus” encompasses fiscal measures (i.e., governmental tax and spending actions) that support short-term economic activity that enhances environmental and natural resource quality over a longer term. The deployment of energy efficiency (EE) and renewable energy (RE) technologies, as well as associated initiatives (e.g., grid modernization, electrification of transport, and so on) have been demonstrably effective in providing this kind of short-run economic boost while simultaneously strengthening the resilience of the power sector. Along with green stimulus packages, concurrent action on the regulatory side—for example, the development of green building codes, updating grid interconnection standards, creating programs and marketplaces for demand-side efficiency, and others—can be a force multiplier in ensuring that public spending achieves maximum impact in near-term recovery and long-term power sector transformation
- Research Organization:
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE; United States Agency for International Development (USAID)
- DOE Contract Number:
- AC36-08GO28308; IAG-17-2050
- OSTI ID:
- 1772991
- Report Number(s):
- NREL/TP-7A40-78782; MainId:32699; UUID:31b3af3c-25de-4a15-b91c-0ed90d3e5619; MainAdminID:21104
- Country of Publication:
- United States
- Language:
- English
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