Rising commodity prices have increased the cost of producing solar PV modules, wind turbines and biofuels worldwide. This situation has short-term implications for equipment manufacturers, project developers and policy makers. Higher prices for solar PV and wind equipment have reversed the cost reduction trend that the industry has seen for more than a decade and may delay the financing of some projects already in the pipeline. While rising input prices have already resulted in policy change on biofuels in several countries, demand for wind and solar PV remains strong, as reflected in recent auction participation and corporate purchasing, even with rising prices. While uncertainty remains as to how long commodity prices will continue their upswing, the impact of rising material costs on the profitability of the renewable energy industry could have long-term implications for the cost of clean energy transitions. 

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