Changing Energy Dynamics Amid Russia-Ukraine Conflict

Published on 21 Jun, 2022

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In line with the Paris Agreement, countries across the globe have implemented net-zero emission (NZE) initiatives to decarbonize electricity generation by 2050. However, the conflict between Russia and Ukraine has put pressure on countries to reuse various energy sources to meet the energy requirement. In this scenario, the green power transition hinges on surge in usage of coal and acceptance of nuclear as the future source for energy generation. Moreover, solar energy is anticipated to benefit significantly from the Russia–Ukraine war as several developed nations have increased solar installations by quickly approving these projects. However, we see an immediate risk related to the installation of solar modules due to increase in photovoltaic prices and imposition of tariffs.