Renewables & Power Trends Report: Heatwaves drive power demand surge, but renewables capacity can help. (condensed version)

Global power prices are trending upward as warm weather continues. Average US prices jumped 36% monthly to almost $46 per megawatt-hour (MWh), while Japanese prices have surged 96% since April. But with solar PV and onshore wind investments hitting new highs this year – $240 billion and $225 billion, respectively – renewables are positioned to help lower prices in the long term.