Julie Steinberg and Joe Wallace of The Wall Street Journal report on how inflation is impacting clean energy.
- Material costs for wind and solar farms are going up because of inflation and supply chain constraints.
- Inflation is also impacting permitting costs in some areas of the world such as Italy, where the cost to buy a permit has increased by €100,000.
- Good economic policy is good environmental policy too. Governments across the globe should look to solutions that are rooted in economic freedom to reduce inflation costs and accelerate clean energy innovation.
“Higher equipment costs partially undo a yearslong downswing in prices that expedited the shift toward renewable sources of energy. They mean the trillions of dollars investors, banks and other companies have lined up to reduce the rise in global temperatures won’t go as far.”
Read the full article here.