The world's governments have agreed to triple renewable energy by 2030, a target set at the UN climate summit in December.
Renewables have much higher up-front costs to build wind farms, solar arrays and more, and that borrowing costs money. After that, operating costs are negligible since the wind and sun are free, of course — but high-interest rates have made it harder to get new projects off the ground. An order for a new wind turbine or a transformer to connect to the grid can take months or longer to arrive than it did before the Covid-19 pandemic.The southern German region of Bavaria, for example, is notorious for its resistance to the noise and appearance of wind turbines in its picturesque landscape.
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