Notably, with West Texas Intermediate crude oil futures trading at $45.9 per barrel, Brent crude at $50 per barrel and natural gas at $2.8 per million British thermal units, cheap energy costs will continue to weigh on clean energy as a competitive alternative.
“I think it’s interesting if you think about what’s going on in commodities today. The irony is that as commodity prices are going down people are going to care less about renewables,” Tim Seymour, a managing Partner at Triogem Asset Management, told Business Insider.
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Max Chen contributed to this article.