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BNEF: cost of new renewables rises as inflation starts to bite

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Despite temporary cost rises for renewables, the gap to fossil fuel power generation continues to widen due to fuel and carbon prices rising even faster. New-build onshore wind and solar projects are now around 40% lower than BNEF’s global benchmarks for new coal- and gas-fired power. More recently, labor costs started to rise.

Cost Of 210
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ExxonMobil: global GDP up ~140% by 2040, but energy demand ~35% due to efficiency; LDV energy demand to rise only slightly despite doubling parc

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This geographically diverse group comprises Brazil and Mexico in the Americas; South Africa and Nigeria in Africa; Egypt and Turkey in North Africa/Mediterranean; Saudi Arabia and Iran in the Middle East; as well as Thailand and Indonesia in Asia. The OECD represents the developed economies.

Energy 252
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IEEE Discusses 6 Simple Solutions to Climate Change at COP27

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That’s according to 2023 IEEE President Saifur Rahman , who was among the speakers from engineering organizations at the COP27 event held in Egypt in November. The IEEE Life Fellow spoke during a session addressing the role of technology in delivering an equitable, sustainable, and low-carbon resilient world.