For companies working to accelerate the clean energy transition, 2022 has been quite a year.Momentum for clean energy has continued to grow around the world, with renewable capacity projected to reach a record 320 GW this year. High energy prices and new pressures on the grid, particularly in Europe, underscored the need for secure, reliable, sustainable and affordable energy sources, and stimulated new actions by governments and the private sector to deliver them. Through the Inflation Reduction Act the U.S. committed to its largest-ever investment in energy and climate action, and globally an estimated $1.4 trillion in new investments surged into clean technology and infrastructure.Responding to these developments, this month the International Energy Agency (IEA) made its largest ever upward revision to its global renewable energy forecast. Solar and wind generation are now expected to more than double by 2027, together surpassing coal as the largest source of power generation by early 2025.
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Friday, November 15, 2024
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