High Gas and Coal Prices Keep Renewable-Energy Rollout on Track

Higher energy prices are a worry for consumers and central bankers this winter, but they have the odd benefit. Case in point: fueling the renewable-energy revolution.

This will be another record year for building wind and solar farms, according to a report published Wednesday by the International Energy Agency. About 290 gigawatts of generating capacity is expected to be installed, up 3% on an exceptionally strong 2020. The trend should continue with an average of 305 GW forecast annually through 2026.