Electricity production from renewable sources is accelerating faster than ever worldwide, confirming the transition to a new economy in energy production. Despite rising costs for the materials used to build solar panels and wind turbines, new renewable energy capacity additions are projected to increase significantly worldwide in the coming decades.
In the rapid energy transition, an important role will be played by the goal of the energy autonomy of the countries since the risk of increasing fossil fuel prices in the long term exists. Energy autonomy and high prices of fossil fuels such as oil and gas are the two parameters that make renewable energy sources even more competitive.
But even if the transition to renewables is rapid, the world is still a long way from being fossil fuel-free on the global path to net zero emissions by 2050.
The challenges are…