Covid-19 Executive Briefing

Understanding the economic impact of the Covid-19 pandemic and the implications for the power sector

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Latest update: 4 May

Many economists have cut their GDP forecasts. The 2020 consensus forecast for GDP growth is currently negative and many predict a recession.

Concern over the spread of Covid-19 has increased, but so has business optimism.


Consensus global GDP growth for 2020 according to current forecasts


The International Labor Organization's expected dip in worldwide working hours in Q2 2020

Impact of Covid-19 on asset prices


Latest update: 4 May 

GlobalData analyst view:

"Lower demand, decline in prices and supply chain issues are troubling the sector."

In March, US clean energy sector job losses are estimated at 106k.

The IEA expects global renewable generation to grow by nearly 5% in 2020, despite supply chain and construction delays.

In 14 European countries a temporary moratorium has been
announced on energy bills.

impact on supply chain and demand