How Shipping and Commodity Fluctuations Are Putting the Future of Clean Energy in Peril

Switching to renewable energy is essential because of the fact that this is the sort of thing that could potentially end up allowing us to generate power without damaging the planet. Renewable, clean energy has been experiencing rapid growth over the course of the past few years to the point where some predictions estimate that its output, as per International Energy Agency, could rival that of fossil fuels and nuclear power combined by 2026. That that could put us on the path to preventing a climate crisis that currently seems more or less inevitable.

Renewable energy has seen a 290 gigawatt increase in overall capacity, with solar leading the charge by generating an extra 160 GWs this past year. With all of that having been said and now out of the way, it is important to note that there are certain things that might make it somewhat difficult for the current trend to continue. While there is definitely a demand for solar energy and other forms of renewable energy that don’t release quite the same level of carbon, methane and other noxious gases that are harming the world we live in, some factors are outside of our control which means they could impede progress.

One such factor is that of rising commodity and shipping prices. You need polysilicon to create solar panels, and now that the price of this raw material is going up the price of the solar panels themselves might start to increase too. That’s a major issue because it would make these options less appealing to individuals, governments and corporations. Shipping costs are also increasing in the fallout of the pandemic, and it does not seem like they are going to settle for at least another year. While this will stall growth, it won’t halt it outright and the industry might be back on track by 2023.

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