The global push to triple renewable energy by 2030 faces significant challenges due to obstacles arising from the post-pandemic global economy. Governments agreed on this goal during the U.N. climate summit, but the current economic environment is creating hurdles for solar, wind, and other renewable energy projects. The need to overcome these barriers will be crucial to meeting the renewable energy target. Another obstacle for renewable energy projects is the difficulty in getting them built. While wind and sunlight are free, projects often face challenges related to interest rates, inflation, and other factors. Additionally, the U.S. government's approval of the nation's seventh large offshore wind project signifies the ongoing efforts to boost renewable energy. The project will see the construction of a 924-megawatt wind farm to power about 600,000 New York homes. These developments come amidst the financial commitment announced by the Biden administration to fund projects aimed at slashing emissions from the industrial sector, the largest-ever U.S. investment to decarbonize industry to fight climate change. These key developments underscore the continued importance and growth of renewable energy projects worldwide.