Global Renewables Alliance urges faster renewable deployment amid energy price shocks

The Global Renewables Alliance has called on governments to accelerate the deployment of renewable energy following renewed volatility in global oil and gas markets linked to the latest crisis in the Middle East.

In a collective statement, the alliance said the current situation highlights ongoing vulnerabilities in the global energy system caused by dependence on fossil fuels. It urged policymakers to treat the latest price shocks as a turning point and speed up the transition to renewable energy to strengthen energy security.

The organisation said renewable energy technologies including wind, solar, hydropower, geothermal and energy storage offer the fastest and most cost-competitive pathway to long-term energy resilience and economic stability.

Repeated energy shocks

The alliance said the latest market disruption follows a pattern of recurring crises linked to fossil fuel dependence. It cited the oil shocks of the 1970s, the Gulf War in the 1990s and the 2022 gas crisis following Russia’s invasion of Ukraine as examples of how geopolitical conflicts can disrupt energy supply and trigger price spikes.

According to the group, economies remain vulnerable because many countries depend on imported fossil fuels. When oil and gas prices rise sharply, the effects are felt across electricity generation, heating, transport and industry. This can increase household energy bills, pressure government budgets and reduce business competitiveness.

With around three-quarters of countries reliant on imported fossil fuels, the alliance warned that price shocks can quickly spread through the global economy, increasing inflation risks and threatening jobs and livelihoods.

The Global Renewables Alliance said expanding domestic renewable energy could help reduce exposure to volatile fuel markets. Technologies such as wind, solar, hydropower and geothermal rely on local resources and typically have stable operating costs once installed.

Countries that have already increased renewable energy capacity, strengthened electricity grids and expanded energy storage have shown greater resilience during recent market disruptions, the group said.

The alliance added that the current crisis should prompt stronger international cooperation to accelerate the transition toward renewable, electrified energy systems.

Policy actions proposed

The Global Renewables Alliance outlined a set of priority measures for governments to accelerate renewable deployment and reduce fossil fuel dependence. These include:

• Fast-tracking permitting: Governments should streamline regulatory approvals for renewable energy and both short and long-duration energy storage projects to enable a significant expansion of capacity within the next three years.
• Expanding grids and storage: The alliance said electricity networks and storage systems must be upgraded and expanded to integrate new renewable capacity. It also called for faster grid connection processes and priority dispatch for renewable generation.
• Mobilising investment: Policymakers should introduce measures to unlock public and private investment in renewable energy and supporting infrastructure. Suggested tools include preferential financing, renewable-focused lending programmes and policies to redirect capital away from high-carbon industries.
• Accelerating electrification: National strategies should support greater electrification of transport, heating and industry, alongside flexibility markets, demand response and energy storage. The alliance also pointed to green hydrogen as an option for sectors that are difficult to electrify.
• Strengthening supply chains: Governments should develop industrial strategies to expand renewable energy supply chains, including manufacturing capacity and workforce development, while providing clearer demand signals and long-term revenue certainty for investors.

The alliance said rapid action on these measures would help countries reduce exposure to fossil fuel price volatility while improving energy security and economic resilience.

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