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24 January 2024 / Article
During the United Nations’ COP28 climate conference, 123 national economies committed to tripling renewable energy generation capacity by 2030.1 Much of that increase will likely come from solar, but a greater emphasis on solar energy in the US might lead to increasing market volatility, negative wholesale energy prices in some regional electric grids, and potentially even a continued reliance on nonrenewables.
[1] COP28 UAE, Global Renewables and Energy Efficiency Pledge, 2023.
[2] International Renewable Energy Agency (IRENA), Renewable Power Generation Costs in 2020, June 2021.
During the United Nations’ COP28 climate conference, 123 national economies committed to tripling renewable energy generation capacity by 2030.1 Much of that increase will likely come from solar, but a greater emphasis on solar energy in the US might lead to increasing market volatility, negative wholesale energy prices in some regional electric grids, and potentially even a continued reliance on nonrenewables.
[1] COP28 UAE, Global Renewables and Energy Efficiency Pledge, 2023.
[2] International Renewable Energy Agency (IRENA), Renewable Power Generation Costs in 2020, June 2021.
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