{"id":84500,"date":"2023-11-14T15:28:35","date_gmt":"2023-11-14T20:28:35","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/here-are-the-biggest-clean-energy-transition-challenges-and-investment-opportunities\/"},"modified":"2023-11-14T15:28:37","modified_gmt":"2023-11-14T20:28:37","slug":"here-are-the-biggest-clean-energy-transition-challenges-and-investment-opportunities","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84500","title":{"rendered":"Here are the biggest clean-energy transition challenges and investment opportunities"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002723730\" role=\"document\">\n<p>The world\u2019s transition toward a clean-energy future faces many challenges, the greatest of which is cost and the economic impact, according to Womble Bond Dickinson\u2019s 2024 Energy Transition Outlook Survey report released Tuesday.<\/p>\n<p>The findings of the third annual survey revealed that while the \u201cpathway to achieving net-zero ambitions is challenging, there remains a commitment to a lower-emissions future,\u201d said Jeff Whittle, head of WBD\u2019s Global Energy and Natural Resources Practice.<\/p>\n<div class=\"paywall\">\n<p>The survey showed that 56% of respondents, comprised of 456 decision-makers in the energy industry, saw \u201ccost and economic impact\u201d amid rising interest rates and equipment prices as \u201ca leading challenge impacting the energy transition,\u201d with 47% of those expressing concern about inadequate tax and incentive support.<\/p>\n<p>Money is \u201cno longer cheap,\u201d and that was a top concern for the survey respondents, the report said, as central banks have raised interest rates significantly over the past two years and \u201cmay well have to keep rates higher for longer.\u201d<\/p>\n<p>\u201cHigher interest rates raise the associated levelized cost of electricity \u2014 or the average of what it will cost to produce electricity in today\u2019s terms incorporating everything from construction to fuel to financing fees,\u201d said Lisa Rushton, co-head of WBD\u2019s U.S. Energy and Natural Resources Practice.<\/p>\n<p>Infrastructure needs and grid flexibility requirements were also among the top challenges impacting the energy transition, as selected by 54% and 52% of total respondents, respectively, the report said.<\/p>\n<p>\u201cThe realization is spreading across the industry that creating a clean-energy system requires more than deploying solar, wind and storage assets at scale,\u201d said Belton Zeigler, co-head of WBD\u2019s Regulated Utilities Team. \u201cIt also requires modernizing and expanding the transmission grid so that it can serve customers efficiently and reliably as electrification proceeds and increasing levels of renewable resources are added to the system.\u201d<\/p>\n<p>Grid modernization includes interconnection challenges and aging infrastructure, the report said.<\/p>\n<p>It pointed out that an International Energy Agency report in October said the world needs to add or replace 49.7 million miles of transmission lines by 2040 to meet climate goals and achieve energy security. The IEA said the replacement amount equates to the \u201centire existing global grid.\u201d <\/p>\n<p>The Womble Bond Dickinson survey also said successful infrastructure projects depend on government support.<\/p>\n<p>When asked about which areas legislation, regulation or incentives could be the most effective in speeding up the clean-energy transition, 40% of respondents chose funding of grid upgrades and efficiency improvements, according to the report. It also said 33% chose policies to incentivize energy storage, and 32% said government support would be most effective in energy efficiency measures.<\/p>\n<p>When it comes to achieving future net-zero emissions goals, more than one-third of the survey\u2019s respondents said insufficient government support was one of their top three challenges.<\/p>\n<p>Still, looking ahead to 2024, the report said the overall investment picture is \u201cstrong\u201d for clean energy, with 56% of total survey respondents increasing their investment or operational focus on energy transition strategies over the past year.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<p>          <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>When it comes to the clean-energy transition, the survey respondents said key areas of investment opportunity include \u201cdecarbonization-focused solutions,\u201d such as biofuels, and biomass \u2014 which the report said is broadly characterized as energy from waste \u2014 as well as energy efficiency improvements, carbon-capture technologies, utility-scale energy storage and electric vehicles.<\/p>\n<p>Meanwhile, the top three threats to net-zero emissions goals are \u201crooted in politics,\u201d the survey report said, with those being insufficient government support; fragmentation, plurality and inconsistency of legislation; and general political risk that governments may not live up to net-zero commitments.  <\/p>\n<p>Overall, business leaders continue to increase their commitment to the global clean-energy transition, the Womble Bond Dickinson report said, but that transition is \u201cfraught with risks and will require a greater-than-anticipated level of capital investment.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/here-are-the-biggest-clean-energy-transition-challenges-and-investment-opportunities-3b4fe488?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world\u2019s transition toward a clean-energy future faces many challenges, the greatest of which is cost and the economic impact, according to Womble Bond Dickinson\u2019s 2024 Energy Transition Outlook Survey report released Tuesday. The findings of the third annual survey revealed that while the \u201cpathway to achieving net-zero ambitions is challenging, there remains a commitment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":84501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-84500","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Here are the biggest clean-energy transition challenges and investment opportunities | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The world\u2019s transition toward a clean-energy future faces many challenges, the greatest of which is cost and the economic impact, according to Womble Bond\" 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