The energy security has been increased to the top of the government priority lists in the wake of the geopolitical instability and is also spiralling the gas prices and as a result, the governments across the world have been looking for accelerating and broadening the scope of their renewable energy programs for the purpose of providing help in decreasing the reliance on the imported energy.
The EY Renewable Energy Country Attractiveness Index (RECAI) has explored how the emerging renewables technologies and the green fuels are having the potential for substantially decreasing the share of the gas in the generation of power and hence creating a favourable investment climate for the sources of the supply.
The report has also noted that, at the time of sourcing gas from somewhere else for decreasing the reliance on the gas from Russia cannot happen overnight and now significant momentum is going to be evident.
Arnaud de Giovanni, head of EY Global Renewables said, most of the renewables technologies that had been considered as high-risk and new in the previous years have been rapidly showing the potential for becoming the mainstream and hence attracting the interest for the investment.
He also said that, with the prices of the energy expected for remaining volatile for the foreseeable future, the energy leaders are having an unprecedented window of the opportunity for the purpose of leveraging the technological innovation and also exploring the investment in enabling the renewable and sustainable growth.
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