Ride the cleantech investment wave
The US Inflation Reduction Act represents nearly USD 400 billion of additional federal spending directed towards clean energy. Meanwhile Europe is responding with its own clean energy investment initiatives. This will turbocharge investment in solar and wind power, and associated battery storage. If anything, solar power has become the cheapest source of new renewable electricity generation, owing to more efficient solar panel designs and the advent of regulations mandating the installation of solar panels in new buildings in California and France, for example.
The need for greater energy security remains a key driver behind both clean energy and energy conservation investment in Europe. Moreover, replacing Russian pipeline natural gas and reducing overall gas and electricity demand are near-term priorities. The circular economy is an important tool in decreasing indirect energy consumption in the production/provision of goods and services.