Grace Donnelly writes in Morning Brew on the impact that steel prices could have on renewable energy.
- The war in Ukraine has strained supply chains and driven up the price of important materials.
- Russia is one of the largest producers of nickel, which is a critical ingredient for EV batteries that is seeing a surge in costs due to sanctions.
- Steel is also seeing record-high costs, which could slow down the buildout of clean technologies in the near term.
“The higher prices could slow the push for renewables in the near term, especially as the world turns its attention to more immediate priorities, like the war and the risks it poses to food and fuel supplies.”
Read the full article here.