Energy Transition Stumbles under Cost Weight

This week, the International Energy Agency said that the COP28 targets for expanding wind and solar capacity were “within reach”. Yet there was a “but”. That had to do with the fast expansion and upgrade of grids and the equally fast buildout of energy storage capacity. That “but” can doom the whole transition—if it’s not already doomed. Take EVs, for example. The latest sales data shows that only China recorded a substantial increase in sales, with those jumping by as much as 42%, driving a global…