2020 was an unprecedented year, with immediate and significant impact on all aspects of the energy sector. At the same time, the snapshot of reduced oil demand, high penetrations of renewable energy, and improved air quality validated decades of hypotheses of the challenges the energy sector will face during the energy transition. Despite the economic and social turmoil, the year was also a turning point for the energy transition with record growth of renewable energy and significant commitments towards decarbonization from many of the world’s largest economies. In this report, the Lux Energy Team revisits its 2020 predictions, highlights major developments, and gives its predictions for 2021.
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