Over the past half decade, the energy sector has been going through a major seismic shift, pivoting away from fossil fuels toward cleaner, renewable alternatives. The sector has, amazingly, maintained its momentum amid the Covid-19 pandemic and subsequent lockdowns that brutally disrupted the entire global energy sector. A recent report by clean energy watchdog Bloomberg New Energy Finance (BNEF) proves that the renewable energy sector has remained largely immune to the ravages of Covid-19, with global energy transition investments in 2020 clocking in at a record $501.3 billion, good for 9% Y/Y growth. Yet, digging deeper into that report reveals that the clean energy boom is heavily lopsided in favor of a single segment: Electric vehicles or EVs. Global investments in renewable energy and electrified transport, assuming the current five-year compound growth rate Source: BloombergNEF EV outperformance BNEF analysis shows that both public and private investments in renewable energy […]