According to a new report from The Wall Street Journal the war in Ukraine is now driving up the cost of renewable energy sources like wind an solar in addition to gas prices.
The Details: In recent years the Biden Administration and other world governments have called for increasing the speed at which the transition to renewable energy is made, however the price of raw materials and supply chain disruptions due to the war in Ukraine have caused projects to be delayed and costs to rise significantly.
In particular, key materials like Aluminum and steel, which are crucial to renewable energy production have seen costs skyrocket.
Prices were already rising pre-invasion, with prices rising 12.1 percent for solar and 19.2 percent for wind energy according to a report released by LevelTen Energy.
It is unclear if or when prices will begin to come back down again.