Demand for renewables on the rise but obstacles remain
In October 2021, the world was thrust into a severe global energy crisis owing to the rapid economic rebound following the slowdown of the COVID-19 pandemic, the Russian invasion of Ukraine in 2022 and inflation, causing skyrocketing energy prices reaching their highest levels since 2008.
Amid this poly-crisis, renewable energy emerged as a ray of hope. Renewables were able to gain considerable momentum as energy consuming sectors became more reliant on renewable energy sources.
