Navigating the Evolving Landscape of the Renewable Energy Sector
Key Ideas
  • Renewable energy sector shows resilience amidst challenges like climate issues, supply chain disruptions, and geopolitical conflicts.
  • Significant growth in large wind turbines, floating solar installations, green hydrogen, and energy storage systems is observed.
  • Report highlights the need for skilled resources to support the transition to low-carbon infrastructure and the insurance market's improved resilience.
  • Advice for renewable energy buyers to engage with advisors and markets for smarter solutions in navigating the evolving landscape.
The Renewable Energy Market Review 2024 by WTW reveals the sector's resilience in the face of climate issues, supply chain disruptions, and geopolitical conflicts. Despite challenges, the sector is experiencing growth in technologies like large wind turbines, floating solar installations, green hydrogen, and energy storage systems. Weather patterns remain unpredictable, leading to natural catastrophe losses. Global supply chains post-Covid-19 pandemic continue to be unstable. WTW highlights the importance of skilled resources for the transition to low-carbon infrastructure. Steven Munday of WTW notes the improved resilience of insurance markets and advises renewable energy buyers to leverage smarter solutions. The report emphasizes the need for continued engagement with advisors and markets to navigate the complexities of the evolving renewable energy landscape.
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