Seems like it would be a good long term investment anyway, but given all of the extractive energy tomfoolery and ass-grabbery with the Strait of Hormuz and the U.S. Iran on and off again war, it seems like this might help push global growth in renewables. Thoughts?
Wil the current situation with Iran and the SoH drive significant clean energy growth?
byu/International_Fold17 ininvesting
Posted by International_Fold17
2 Comments
As someone who works in the sustainability field, previously in building solar, geothermal, and wind facilities, and now in procuring purchase agreements for the energy from these sites, I’m going to say no.
These projects aren’t fast. And the people interested in them already know the benefits, they don’t need a crisis to see the benefits.
Interest in cheaper energy is spiked short term. But the decision makers for large energy users who don’t believe in climate change and in the benefits of CO2 reduction have short memories and are purely interested in price. The price for crude oil and gas will be back down in, at worst, a couple years. They’ll say they’re vindicated for not making a shift at that point.
Side note, there are MANY more of these people in high up positions in areas like manufacturing than you would think.
Already is in most markets.
There has been a spike in consumer level renewables in everything from EV sales, to home batteries, balcony solar and heat pumps across Europe, Asia and Oceania. Europe particularly, having already seen this movie once when Russian largely gas came off the grid with the Ukraine invasion, a lot of this stuff has already been proven to work and those who didn’t move last time now have real world evidence from early adopter friends who did, and so are now pulling the trigger.
I wouldn’t expect much of a spike in other renewables like grid scale solar and wind installations, simply because there’s an aggressive build out of those already happening and plans haven’t changed much there – deployment is happening aggressively at the speed grind connections can accommodate. The majority of countries are still committed to the climate targets from the Paris agreements and hurtling toward a 50% cut in emissions by 2030, while some are a bit behind trend, things are moving at a rapid clip with renewables records being set multiple times a year in many countries.
The only real exception to this is the USA where the ass-backwards president is cancelling wind farms left right and centre.