News
Supply chain delays and steel costs are part of ‘perfect storm’ stalling renewable energy growth
Supply chain delays from China and the soaring cost of steel and other materials are combining to slow the advance of renewable energy in Australia and elsewhere, a leading insurer and industry groups say.
Related Knowledge Center: ENERGY BASICS: renewables
State of Play
Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.