The CEO of a $681 million energy-investment firm says the coronavirus pandemic will give these 3 sectors a boost — but threatens to unravel one other
The coronavirus pandemic will likely boost companies working on energy infrastructure, according to Hans Kobler, the CEO of the investment firm Energy Impact PartnersThe coronavirus pandemic has stalled growth in the solar and wind industries, but the transition to clean energy is still on track.
Though the pandemic has spared few industries, clean energy has been hit especially hard. The research firm Wood Mackenzie slashed its 2020 forecast for solar installations by 18% and trimmed its wind energy projections by 6.5%. And as many aspeople in the clean-energy industry could also lose their jobs — equal to 15% of the workforce.
In a recent conversation with Business Insider, the chief executive of the utility CMS Energy, Patti Poppe, said that investing in digital infrastructure, such as tools to automate restoration schedules, has enabled the utility to go remote right away. In the last couple of weeks, so-called prepping has gone up 200%, according to EIP's own research, which could fuel industries like rooftop solar and storage,"You have to put the infrastructure in place that allows the energy to work and work securely," he said. Along with infrastructure and innovation, cybersecurity also has to be a priority, Kobler said — and it's not hard to imagine the value it provides for energy utilities.
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