Investing
January 20, 2022 12:45 pm
Global renewable energy capacity grew by about 13% in 2021 to 272 gigawatts (GW). Solar generation capacity is expected to expand by an additional 25% in 2022, while new wind generation capacity will decline by about 10% year over year.Mark Strouse, North American alt energy analyst for J.P. Morgan, noted that these estimates are based on current government incentives and the increases could be larger if incentives are increased. The most notable of these potential increases is about $555 billion targeted at energy and the environment over the next decade. Some $320 billion in tax credits lie at the heart of legislation currently being debated in the U.S. Senate.Another headwind is proposed legislation in California that would change the way homeowners are…