QCLN - Renewable Power: Stubborn Challenges Need To Be Addressed For Sustainable Growth
2024-01-30 01:00:00 ET
Summary
- Renewable power is a key pillar to decarbonising the world economy.
- We expect decent renewable power capacity growth in Europe and the US in 2024 and beyond.
- However, it's not happening fast enough because of vulnerable supply chains, high financing costs, congested grids and slow permitting.
By Coco Zhang, ESG Research & Gerben Hieminga, Senior Sector Economist
Global renewable power deployment: fast but not fast enough
With the cost of renewable energy plummeting over the past two decades and renewable energy transitioning to a more mature market, global renewable power capacity additions have been reaching new records for 22 years in a row, according to the International Energy Agency (IEA). But the pressure is on to deploy renewable energy even faster. Different parts of the global economy, such as the transportation and industrial sectors, need renewable electricity to decarbonise their operations....
Renewable Power: Stubborn Challenges Need To Be Addressed For Sustainable Growth