Morocco’s Renewable Energies Boost Its Resilience Amid Oil Shocks
Ifrane – In usual times, the prices of crude oil fluctuate. In extraordinary times, like those the international community is encountering due to the outbreak of COVID-19, the oil industry undergoes a severe shock. Supply is far exceeding demand because economic activity worldwide has slowed down.
Experts argue the pandemic can disrupt the progress of many countries in the renewable energy sector, depending on the length of confinement and lockdowns. However, policy-makers can still turn this challenge into an opportunity by providing enough stimulus.
In the Maghreb, Morocco's renewable energy sector is resilient and will positively shape the post-pandemic region, especially because other Maghrebi countries like Algeria and Tunisia have also set strategies to uphold a smooth transition towards renewables.
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