Renewables Soar Amid High Energy Prices and Inflation

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High commodity prices and general inflation have pushed all energy-related prices up. Many have been wondering whether this will incentivize the world to transition away from expensive fossil fuels, or, on the contrary, push renewables in a deadly spiral of cost overruns and project delays. The answer is clearly the former, according to the International Energy Agency's (IEA) newly published Renewable Energy Market Update. Global renewable capacity additions reached 335 gigawatts in 2022, up 13% from 300 GW in 2021, and are expected to achieve a staggering 440 GW this year and at least 460 GW next year.

Renewable Electricity , Low-Carbon Policy
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