High interest rates challenge global shift to renewables

A new report from Wood Mackenzie examines how the global shift to higher interest rates to combat inflation is squeezing the energy transition. From pv magazine USA After a period of historically low interest rates from 2009 to 2022, central banks have sharply raised interest rates to fight inflation. The rising cost of capital has "profound implications" for the energy and natural resource industries, Wood Mackenzie said in a recently published report. The transition to a net-zero economy could globally require $75 trillion of investment by 2050, said the research firm. The higher cost of capital ...

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