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The cost of renewable energies is expected to increase in the coming months

2021-10-11T20:14:45.358Z

The surge in commodity prices is likely to put a brake on the fall in costs experienced by the sector for ten years, according to the World Energy Markets Observatory.



The spreading inflation should not spare renewables, warns CapGemini in its annual report on global energy markets.

"

The surge in the prices of metals necessary for the energy transition could wipe out part of

the fall in costs recorded in solar and wind power over the past ten years

", warns the author of the report and energy advisor to the president of CapGemini , Colette Lewiner.

Read alsoThe boom in steel thwarts the boom in solar power

The strong Chinese recovery combined with congestion in logistics and the lack of mining investments during the health crisis explain the rise in metal prices.

However, wind power, solar panels and the development of electricity networks require a lot of copper, lithium, cobalt and rare metals.

These are mined in only a few countries.

The increase in demand should therefore cause a surge in the prices of these metals.

The slowdown in the fall in renewable costs could be amplified by the resumption of growth and the rise in interest rates observed in 2021, as wind and solar projects require significant investments

,” continues Colette Lewiner.

In the meantime, costs in the sector have continued to fall sharply in 2020. Solar costs fell by 7% last year.

Those of onshore wind fell by 13% and those of offshore wind by 9%.

However, the prices of solar panels made in China are already starting to rise, partly because of the rise in steel and the pressures on the price of coal.

Chinese solar panel factories turn on electricity produced by coal-fired power stations.

Read alsoSteel drives up the price of wind turbines

In the meantime, costs in the sector have continued to fall sharply in 2020. Solar costs fell by 7% last year.

Those of onshore wind fell by 13% and those of offshore wind by 9%.

However, the prices of solar panels made in China are already starting to rise, partly because of the rise in steel and the pressures on the price of coal.

Chinese solar panel factories turn on electricity produced by coal-fired power stations.

Steel drives up the price of wind turbines.

In France, legal remedies against onshore wind projects are extending construction times and therefore their costs, warns the World Energy Markets Observatory.

Source: lefigaro

All business articles on 2021-10-11

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