Part 6/8:
Economic Constraints: With the EU’s GDP projected to grow less than 1% in 2024 and inflation driving up interest rates, both public and private investments are becoming scarce. The large upfront costs associated with transitioning to renewable energy sources are expected to produce long-term savings, but uncertain economic conditions make it difficult for stakeholders to commit financial resources.
Job Creation Disappointment: The initial hope that green industries would rapidly create well-paid, high-value manufacturing jobs has not materialized as expected. For instance, the workforce required for solar farms is significantly smaller than that needed for traditional coal mines, leading to fewer employment opportunities than initially anticipated.