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Intelligence for energy companies seeking a data-driven approach to cost management

EMEA Power & Renewables Cost Inflation Trends - Q3 2022

November 11, 2022 at 11:45 AM / by Wood Mackenzie Supply Chain

A recessionary outlook for the global economy, sanctions on Russia and the follow-on impacts as the world emerges from the COVID-19 pandemic continue to reverberate through the power and renewables sector. Geopolitical fragmentation and trade tensions pose a monumental challenge to solar, wind, battery storage and utility supply chains at a time when energy security and the net-zero transition become more intertwined than ever before.

Despite a slump in the cost of some items in Q3, our high-case scenario for Q4 indicates that volatility remains across key items, such as solar modules, wind towers and lithium iron phosphate batteries.

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